Fiji has taken a major step toward greener transport as Fijians get 3.99% EV loans through a new partnership between the Fiji Development Bank (FDB) and FMF Electric Vehicles PTE Limited. The collaboration, formalized through a Memorandum of Understanding (MoU), aims to make electric mobility more accessible, affordable, and practical for everyday consumers.
A Milestone for Clean and Affordable Transport
FDB CEO Filimone Waqabaca announced that the bank will offer electric vehicle loans at an extremely competitive 3.99% interest rate, positioning it among the best loan options in the country. Under this scheme, customers can access financing up to $200,000 with repayment terms of up to seven years, supporting both private buyers and businesses transitioning to electric fleets.
Waqabaca emphasized that Fiji, like many small island developing states, is at the frontline of climate change. Rising fuel prices, environmental threats, and the need for sustainable development have made cleaner transport solutions essential. The EV loan program forms part of FDB’s wider Green Financing Initiative, which also supports renewable energy and energy-efficient investments.
Making EV Adoption Practical for All Fijians
FMF Marketing Manager Maria Kumar, speaking on behalf of CEO Sanjay Punja, noted that this partnership extends far beyond simply selling vehicles. The goal is to ensure that sustainable transport is accessible, practical, and affordable, giving consumers confidence to shift to 100% electric vehicles while reducing emissions and fuel dependency.
FMF Electric Vehicles General Manager Reshmani Murti addressed rural concerns, confirming that FMF’s EV models have been tested on rural road conditions and perform on par with petrol vehicles. Entry-level EVs can travel up to 330 km on a full charge, with batteries lasting up to 6,000 charge cycles.
A Strategic Move Toward a Low-Carbon Future
As part of its Climate & Eco-Finance Strategy, FDB continues to support national sustainability efforts, including funding EV charging infrastructure to boost adoption. With this initiative, Fijians get 3.99% EV loans, helping households and businesses embrace cleaner transportation and contribute to Fiji’s low-carbon future.
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