The Pacific Sustainable Development Initiative (PSDI) Financing Growth team visited Fiji to assist the Government of Fiji in implementing the Access to Business Funding (A2BF) Act 2025, a groundbreaking legislative framework designed to facilitate innovative financing mechanisms including small offers, peer-to-peer (P2P) lending, and crowdfunding.
A significant highlight of the visit was the official launch of a Request for Proposals (RfP) seeking a company or consortium to develop and operate Fiji’s first P2P lending platform. P2P lending leverages technology to provide an alternative lending approach that reduces or removes collateral requirements, thereby increasing financial access for micro, small, and medium-sized enterprises (MSMEs) that often face challenges obtaining traditional financing.
The RfP was launched jointly by the Ministry of Commerce and Business Development and the Reserve Bank of Fiji at a press conference, marking a crucial step towards bringing the new law into practical operation.
During their visit, PSDI facilitated a knowledge-sharing exchange with senior representatives from MicroLeap, a Malaysian P2P lending provider with experience in markets similar to Fiji. The MicroLeap team engaged with key stakeholders including the Ministry of Commerce and Business Development, Ministry of iTaukei Affairs, and the Fiji Investment Corporation to explore how P2P lending could complement government assistance programs that provide substantial grant funding to targeted sectors.
MicroLeap also held two separate sessions with MSMEs, MSME support organizations, and business development service providers. These interactive sessions aimed to familiarize the local business community with the benefits of P2P lending and how it could improve their access to capital.
Additionally, the MicroLeap team collaborated with the Reserve Bank of Fiji to review draft regulations and guidelines for P2P lending, sharing insights on best practices from Malaysia as well as potential regulatory challenges to consider in Fiji’s context.
PSDI further participated in the fourth A2BF Act implementation task force meeting, providing updates on regulatory developments for P2P lending and equity crowdfunding, and discussing plans to create a startup support package for the successful P2P lending platform operator.
PSDI is proud to partner with the Ministry of Commerce and Business Development and the Reserve Bank of Fiji in advancing the implementation of the Access to Business Funding Act and expanding equitable access to finance for Fijian businesses, driving economic growth and entrepreneurship across the country.
L-R: Adham Crichton, First Secretary Trade and Economics, New Zealand High Commission, Suva; Emily Wilson, Acting-Counsellor, Economic and Development Cooperation, Australian High Commission, Suva; Hon. Esrom Immanuel, Minister for Finance, Commerce and Business Development; Ariff Ali, Governor, Reserve Bank of Fiji; Saud Minam, Asian Development Bank Senior Private Sector Development Specialist.
