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ADB 2019: Solomons Request For More Concessional Financing

ADB has been supporting the Solomon Islands since 1973 and has committed $125.4 million in loans, $171.7 million in grants, and $31.5 million in technical assistance.
02 May 2019 23:17
ADB 2019: Solomons Request For More Concessional Financing
Solomon Islands alternate governor to the ADB board and Solomon Islands Permanent secretary for Finance Mckinnie Dentana. Photo: Lusiana Tuimaisala

The Solomon Islands Government is requesting for more concessional financing from the Asian Developing Bank (ADB).

This was one of the issues raised by their delegation during the Pacific Developing Member Country Governors Informal Preparatory Meeting held at the Sheraton Resort in Denarau yesterday.

Solomon Islands alternate governor to the ADB board Mckinnie Dentana said: “Our fiscal obligation is to ask for more concessional financing from ADB and other bilateral countries and donors.

“We are seeking other components in terms of grant from ADB.”

Connectivity issues

In fact, on Monday, the Solomon Islands delegation had already raised some of the main issues in terms of prioritising programmes in investments.

This includes investment on infrastructure.

“This will help us connect to other sectors, so that it can boost and stimulate economic growth and development in the Solomon.

“It will help us connect to agriculture, tourism and other sectors including Government services.”

It is expected to ease the efficient delivery of Government services on the island.

Debt burden

Mr Denatana said: “As a group, Pacific Island Countries give the ADB managements the considerations on our debt burden.

He said: “Some of our PIC’s debt was becoming our major concerns in terms of our commitment.

“For the Solomon Islands delegation, we have a number of very important bilateral meetings that we have scheduled.

This include meetings with Australia, the European Union and the US.

ADB Support on Solomon Island

ADB has been supporting the Solomon Islands since 1973 and has committed $125.4 million in loans, $171.7 million in grants, and $31.5 million in technical assistance.

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