US boosts Pacific climate resilience with $20 million injection
They were taken during the Pacific Islands Leaders Forum Meeting - in the Cook Islands last year and again in Tonga this week.
Friday 30 August 2024 | 12:46
Prime Minister Sitiveni Rabuka gets a friendly shoulder tap from his Australian counterpart, Anthony Albanese, in Tonga.
The United States will provide an additional $20 million to help support the development of the Pacific Resilience Facility ( PRF).
This is in addition to the $5m it has already provided for the PRF-a financing facility to help the region with its climate resilience and adaptation.
In a press roundtable on Wednesday, US Deputy Secretary of State Kurt Campbell highlighted several key areas in which the US is investing substantial funds and resources to enhance the region's climate resilience.
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Some of these critical areas include the launch of a new five-year programme to boost the region's access to climate finance, $3.6m to strengthen disaster preparedness, and a commitment to provide $2m to support new climate-smart agriculture initiatives with other partners.
Mr Campbell said the US was committed to helping the region well into the future, not only in climate resilience, but also in education, technology and connectivity, and combating illegal fishing.
In addition, the US will launch a $50m microfinance facility for micro, small, and medium-sized enterprises (MSMEs) across four institutions in the region.
Mr Campbell noted the new initiatives were a substantial step up from the assistance provided over the last couple of years.
Regional financing facility
Fiji's Permanent Secretary for Environment, Michael Sivendra, told the gathering at the PRF talanoa session yesterday that the facility was designed to simplify access to climate finance.
"We must acknowledge and commend the PRF as the first regionally owned international organisation that will be a fit-for-purpose finance and a fit-for-purpose financial institution for community resilience financing," he said.
Feedback: ivamere.nataro@fijisun.com.fj
