Fiji has successfully obtained $US134.5 million (around $F307.7 million) from the Asian Development Bank for the purpose of replacing four vital bridges on the island of Viti Levu, as part of the Critical Bridges Resilience Project.
This financial package comprises $US120 million ($F274.5 million) in concessional loans and $US14.5 million ($F33.2 million) in grants. The funding will significantly enhance infrastructure resilience, particularly against the impacts of climate change.
Deputy Prime Minister and Finance Minister Professor Biman Prasad emphasized the importance of this loan, stating that it addresses urgent infrastructure needs while ensuring critical transport links remain resilient in the face of extreme weather events. He noted that these upgrades are crucial for improving connectivity and promoting long-term sustainable growth in Fiji.
The project specifically targets the replacement of the Lami, Medraukutu, Sabeto, and Viseisei bridges, which play essential roles in linking communities, facilitating trade, and bolstering the tourism sector.
These upgrades are in line with Fiji’s National Development Plan, which prioritizes climate-resilient infrastructure and enhanced connectivity. The loan agreement features favorable terms, including a 40-year repayment period and a 10-year grace period, allowing the government to advance the project without significant fiscal strain.
Overall, this partnership between Fiji and the Asian Development Bank represents a significant step forward in enhancing the nation’s infrastructure and tackling the challenges posed by climate change, fostering hope for a more resilient future.
In summary, the funding ensures that Fiji’s critical transport infrastructure will be better prepared for climate impacts, thereby supporting economic growth and community connectivity.
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