The Fijian government has successfully secured a funding package amounting to $134.5 million (approximately $307.7 million FJD) from the Asian Development Bank (ADB) to fund the Critical Bridges Resilience Project. This investment will specifically focus on replacing four crucial bridges on Viti Levu: the Lami, Medraukutu, Sabeto, and Viseisei bridges.
The financial package consists of $120 million (about $274.5 million FJD) in concessional loans and an additional $14.5 million (around $33.2 million FJD) in grants, aimed at bolstering the resilience of infrastructure in the face of climate change. Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, emphasized the importance of this loan, stating that it addresses urgent infrastructure needs and ensures that critical transportation links maintain their stability during extreme weather events.
These planned upgrades are vital not only for enhancing connectivity but also for fostering long-term sustainable growth in Fiji, reinforcing trade, and supporting the tourism industry. The initiative aligns with Fiji’s National Development Plan, which places a strong emphasis on developing climate-resilient infrastructure.
The loan also has favorable terms, including a repayment period of 40 years and a grace period of 10 years, allowing the government to implement the project while mitigating fiscal strain. This agreement marks a significant step in reinforcing the collaborative relationship between Fiji and ADB, supporting Fiji’s ambition to improve infrastructure and adapt to climate change challenges.
This project’s positive implications extend beyond just infrastructure; they signal a commitment to sustainability and adaptation, underscoring Fiji’s proactive approach in tackling climate change. By enhancing transport links, communities will become more interconnected, creating a more robust economy and fostering overall growth in the region.
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