Fiji has successfully obtained $134.5 million from the Asian Development Bank (ADB) to undertake the replacement of four significant bridges on Viti Levu as part of the Critical Bridges Resilience Project. This funding package is composed of $120 million in concessional loans and $14.5 million in grants, aimed at enhancing the resilience of infrastructure against climate change impacts.
Deputy Prime Minister and Finance Minister Professor Biman Prasad highlighted the urgency of this loan, stating it is vital for addressing pressing infrastructure needs and ensuring that critical transport connections remain robust against extreme weather conditions. He emphasized that these upgrades are crucial for improving connectivity and fostering sustainable long-term growth in Fiji.
The bridges set for replacement, namely the Lami, Medraukutu, Sabeto, and Viseisei bridges, play a vital role in linking communities, promoting trade, and boosting tourism. This project aligns well with Fiji’s National Development Plan, which focuses on establishing climate-resilient infrastructure and enhancing connectivity throughout the nation.
The agreement includes favorable terms, featuring a 40-year repayment period along with a 10-year grace period, which provides the government with the necessary flexibility to execute the project without imposing significant fiscal burdens.
This partnership with the ADB not only solidifies the relationship between Fiji and the bank but also demonstrates the country’s commitment to improving its infrastructure and adapting to the demanding challenges posed by climate change.
In summary, this initiative reflects a proactive approach towards addressing infrastructural resilience in the face of climate change, ensuring that Fiji’s communities remain connected and economically vibrant.
The positive implications of this project are significant, as it not only aims to enhance transportation links but also strengthens the overall economic framework of Fiji during these challenging times.
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