The aim of the investment is to boost competitiveness in the small and medium enterprise finance market while also improving financial inclusion, creating jobs, and supporting the nation's climate goals. 

This initiative refines and expands coverage of the parametric insurance product that was first launched in 2021 and aims to strengthen Fiji’s financial resilience against climate change and natural disasters.

This partnership will give hundreds of thousands of Fijians access to digital payments through Mastercard’s global payment network of over 100 million merchants worldwide.

The UN Capital Development Fund is pleased to announce international insurance group, Howden, as a new addition to its long list of private sector partners helping fight climate change in the Pacific.

This is a key outcome of reforms the Reserve Bank of Fiji has been leading in collaboration and partnership with key payment system stakeholders in Fiji.

Both products offer combined insurance cover against heavy wind and rainfall and are designed to offer immediate financial support after extreme weather events.

The investment in the nation's recovering financial sector is part of a wider SME strategy, which aims to help spur a greater range of financial products and services such as psychometric scoring solutions and payment systems reforms.

The United Nations Capital Development Fund launched the challenge with the aim to attract local and global fintechs with market-ready solutions to address identified problem statements which represent the challenges faced by Pacific Islands Countries.

The credit aims to strengthen financial sector stability, diversify financial solutions, and increase access to financial services in support of Nepal's green, resilient, and inclusive development.

Microfinance-supported entrepreneurs have exhibited the same resourcefulness that has characterized many other small businesses during the pandemic. At the same time, they face a variety of ongoing challenges.