ADB to loan Fiji $341.1m

Confidence in Fiji economy

THE Asian Development Bank has earmarked $341.1million in firm and tentative investments between 2018-2020. The ADBs country operations plan for Fiji 2018-2020 reveals this funding will be directed to three specific areas. Of the amount, $180million will be to facilitate private-sector-led growth – $50 million will be co-financed from the World Bank.

In 2019, the ADB will provide $111.1million towards an Urban Water Supply and Wastewater Management Investment Program. Co-financiers of this project will be the European Investment Bank, the Green Climate Fund, and the Fijian Government. By 2020, $50million will be allocated for a potential new transport (ports) infrastructure investment.

The ADB has confidence in the Fijian economy, according to the operations plan document. “Since 2014, total investment in Fiji has exceeded the government’s target of 25per cent of gross domestic product (GDP), largely driven by higher public expenditure to address infrastructure gaps, particularly in transport and water and sanitation,” says the ADB report.

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