Fiji has successfully secured $134.5 million USD (approximately $307.7 million FJD) in funding from the Asian Development Bank (ADB) aimed at replacing four crucial bridges on the main island of Viti Levu. This initiative is part of the Critical Bridges Resilience Project, which is designed to enhance the resilience of infrastructure against the impacts of climate change.
The funding consists of $120 million USD in concessional loans and $14.5 million USD in grants. Deputy Prime Minister and Finance Minister Professor Biman Prasad emphasized the importance of this loan in addressing urgent infrastructure needs, stating that it is vital for maintaining critical transport links that withstand extreme weather conditions. He highlighted that the upgrades are crucial for improving connectivity and promoting sustainable growth in Fiji.
The project will focus on replacing the Lami, Medraukutu, Sabeto, and Viseisei bridges, which serve as essential connectors for communities, trade, and tourism. These improvements are in line with Fiji’s National Development Plan, which emphasizes the need for climate-resilient infrastructure and enhanced connectivity.
Notably, the terms of the loan are favorable, with a 40-year repayment period and a 10-year grace period. This provides the Fijian government with the flexibility necessary to carry out the project without significant fiscal stress.
This agreement not only bolsters Fiji’s infrastructure development but also strengthens the enduring partnership between Fiji and the ADB, furthering the nation’s commitment to adapting to climate change challenges.
This significant investment represents a positive step towards enhancing Fiji’s infrastructure, fostering sustainable development, and ultimately improving the quality of life for its citizens. The proactive approach towards climate resilience showcases the country’s dedication to safeguarding its future against environmental uncertainties.
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