Government Guarantee Status

ITEM No.DateGuarantee onMotionCommentsCorrespondence    

2015

121–5–2015FDBGOVERNMENT GUARANTEE—FIJI DEVELOPMENT BANKThe motion was unanimously agreed to.
HON. A. SAYED-KHAIYUM.- Madam Speaker, pursuant to Standing Orders 131 and for the purpose of Section 145 (1) of the Constitution of the Republic of Fiji, I move that Parliament approves—
That the Government Guarantee the issue of $110 million to Fiji Development Bank for short and long term bonds, promissory notes, term deposits and other short term borrowings effective from the date of approval to 31st December, 2015.
221-5-2015FSCGOVERNMENT GUARANTEE—FIJI SUGAR CORPORATIONThe motion was unanimously agreed to.
HON. A. SAYED-KHAIYUM.- Madam Speaker, pursuant to Standing Order 131 and for the purposes of Section 145 (1) of the Constitution of the Republic of Fiji, I move that Parliament approves—
The extension of Government guarantee of FJ$120 million to Fiji Sugar Corporation (FSC) from 1 June, 2015 to 31 May, 2020, which expires on 31 May, 2015.
325-8-2015PAFCOGOVERNMENT GUARANTEE—PACIFIC FISHING COMPANY LIMITED (PAFCO)The motion was unanimously agreed to.14-9-2015
HON. A. SAYED-KHAIYUM.- Madam Speaker, pursuant to Standing Order 131 and for the purpose of Section 145(1) of the Constitution of the Republic of Fiji, I move that Parliament approves—
A new Government Guarantee with a ceiling of $11,320,241 in favour of the Australian and New Zealand Banking Group Limited to enable PAFCO to access financing from ANZ.
420-11-2015FEAGOVERNMENT GUARANTEE TO FIJI ELECTRICITY AUTHORITY (FEA)—OFFSHORE AND DOMESTIC BORROWINGSThe motion was unanimously agreed to.23-11-2015
HON. A. SAYED-KHAIYUM.- Thank you, Madam Speaker, I will now move the motion for the first guarantee.
Madam Speaker, pursuant to Standing Order 131 and for the purpose of Section 145(1) of the Constitution of the Republic of Fiji, I move that Parliament approves—
(i) That the FEA maintain the existing Government guarantee mix of US$50 million for offshore borrowing and F$404 million for domestic borrowings; and
(ii) The extension of the availability period of the current Government guarantee to 31st December, 2016. The guarantee is for one year.
520-11-2015FDBGOVERNMENT GUARANTEE TO FIJI DEVELOPMENT BANK (FDB)—SHORT AND LONG TERM BORROWINGSThe motion was unanimously agreed to.23-11-2015
HON. A. SAYED-KHAIYUM.- Madam Speaker, pursuant to Standing Order 131 and for the purpose of Section 145(1) of the Constitution of the Republic of Fiji, I move that Parliament approves that—
(i) Government guarantees the issue of $125 million to the Fiji Development Bank for short and long term bonds, promissory notes, term deposits and other short-term borrowing, effective from 1st January to 31st December, 2016.
(ii) FDB pays a fee of 0.075 per cent of the utilised guaranteed credit and that Government acts as guarantor for FDB.

2017

19–2–2017FEAGOVERNMENT GUARANTEE—FIJI ELECTRICITY AUTHORITYThe motion was unanimously agreed to.
HON. A. SAYED-KHAIYUM.- Thank you, Madam Speaker. Madam Speaker, pursuant to Standing Order 131 and for the purpose of Section 141(1) of the Constitution of the Republic of Fiji, I move that Parliament approves that—
(i) the Government guarantees the Fiji Electricity Authority’s (‘FEA’) borrowings in accordance with the approved Government guarantee mix from the date the guarantee is approved by Parliament to 31st December, 2017;
(ii) the existing Government guarantee mix of US$50 million for offshore borrowings and F$404 million for domestic borrowings be maintained;
(iii) FEA be charged a 0.75 percent guarantee fee on an annual basis, on the outstanding balance of the Government guaranteed loans, payable semi-annually.
2September 2, 2017FDBGOVERNMENT GUARANTEE—FDBThe motion was unanimously agreed to.
January 1, 1970HON. A. SAYED-KHAIYUM.- Madam Speaker, pursuant to Standing Order 131 for the purpose of Section 145, one of the Constitution on Republic of Fiji, I move that Parliament approves that—
January 1, 1970(i) The Government act as guarantor for the Fiji Development Bank (FDB);
January 1, 1970(ii) The Government guaranteed the issue of up to $130 million of the FDBs short and longterm bonds, promissory notes, term deposits and other short-term borrowings effective from the date of approval to 31st December 2017; and
January 1, 1970(iii) FDB pay a guarantee fee of 0.075 percent of the total guarantee cover.
325–5–2017FSCGUARANTEE OF LOAN—FIJI SUGAR CORPORATION LIMITEDThe motion was unanimously agreed to.26–5–2017
HON. A. SAYED-KHAIYUM.- Madam Speaker, for the purpose of Section 145(1) of the Constitution of the Republic of Fiji and pursuant to Standing Order 131(1), I move that Parliament approves that—
(i) Government increases the existing guarantee of FJ $120 million to FJ $322 million to the Fiji Sugar Corporation Limited and extends the period to 31st May 2022; and
(ii) FSC is exempted from paying a guarantee fee.
415–9–2017FEAEXTENSION OF GOVERNMENT GUARANTEE—FIJI ELECTRICITY AUTHORITY (FEA)The motion was unanimously agreed to.15–9–2017
Hon. Attorney-General and Minister for Economy, Public Enterprises, Civil Service and Communications to move that Parliament approves—
(i) the revised Government guarantee mix for Fiji Electricity Authority (FEA) borrowings of US$50 million for offshore borrowing and FJ$202 million for domestic borrowing;
(ii) the extension of the validity period of FEA’s Government guarantee for 3 years effective from 1 January 2018 to 31 December 2020; and
(iii) that FEA be charged with a 0.75% guarantee fee, with the fee to be paid up-front.
515–9–2017FDBGOVERNMENT GUARANTEE—FIJI DEVELOPMENT BANK (FDBThe motion was unanimously agreed to.
Hon. Attorney-General and Minister for Economy, Public Enterprises, Civil Service and Communications to move that Parliament approves that—
(i) Government provides the guarantee of $160 million on the Fiji Development Bank’s issuance of short and long-term bonds, promissory noted, term deposits and other short-term borrowings for the twelve month period effective from 1st January, 2018 to 31st December, 2018; and
(ii) the Fiji Development Bank pays a guarantee fee of 0.075 percent of the utilised guarantee credit.
615–9–2017Exim Bank of IndiaEXTENSION OF GOVERNMENT GUARANTEE—EXIM BANK OF INDIAThe motion was unanimously agreed to.
Hon. Attorney-General and Minister for Economy, Public Enterprises, Civil Service and Communications to move that Parliament approves—
(i) the extension of the Government guarantee period for the Exim Bank of India loan from 19 September 2019 to 31 December 2028; and
(ii) that the Fiji Sugar Corporation be exempted from paying the guarantee fee.
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