NEWS

MP Concerned With Use Of Green Bond Funds

SODELPA MP Aseri Radrodro says while Government describes the response to the raising of the Green Bonds as phenomenal, the obtaining of the funds is not the issue. “It’s use,
14 Mar 2018 10:00
MP Concerned With Use Of Green Bond Funds
SODELPA MP Aseri Radrodro

SODELPA MP Aseri Radrodro says while Government describes the response to the raising of the Green Bonds as phenomenal, the obtaining of the funds is not the issue.

“It’s use, and the adherence to the framework for the disbursement of the funds, rather, is the Opposition’s concerns,” he said.

“At the forefront of our concerns is the contradiction of our national policies to the principle intent of the Funds which is to address, mitigate and prepare long term development infrastructure to be climate change resilient, not to mention mitigate against current challenges already being faced due to climate change.”

Mr Radrodro said the policies of the Government needed to be instrumental in a big way, not just lip service.

He said the Government had said through the Reserve Bank of Fiji that the Green Bond funds would be separately accounted for, and the Ministry of Economy would ensure no double funding on projects already budgeted for by Government.

He said areas of need should be prioritised when utilising these funds. Referring to the Auditor-General’s Report, Mr Radrodro said any abuse of funds or laxity in monitoring could not be entertained.

He said the Auditor-General’s Report  had shown blatant disregard for financial policies.

Edited by Naisa Koroi

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