The Asian Development Bank (ADB) has granted $452.5 million for an initiative aimed at upgrading essential bridges on Fiji’s main island to enhance domestic transportation connections. This financial support includes a concessional loan of $272 million and a grant of $32.8 million from the Asian Development Fund (ADF), which is dedicated to aiding the poorest and most vulnerable developing member nations.
In addition to ADB’s contributions, the Fijian government will provide $34 million in counterpart financing. The project is also expected to receive a co-financing loan of $113 million from the World Bank.
Aaron Batten, the Regional Director of ADB’s Pacific Subregional Office, highlighted the significance of the project, stating that the construction of four bridges in regions such as Lami, Medraukutu, Sabeto, and Viseisei will significantly enhance domestic connectivity, facilitating access to markets, schools, and healthcare services.
This investment not only underscores a substantial commitment to improving infrastructure in Fiji but also promotes economic development and social upliftment in the region, heralding a new chapter of opportunities for the local population.
In summary, the ADB’s funding for the Critical Bridges Resilience Project demonstrates a collaborative effort to improve infrastructure in Fiji, benefiting both the economy and the community by fostering better connectivity. This development suggests a bright future for the island’s transport system and public services.
Leave a comment