The Fijian Government has successfully secured funding of $US134.5 million (about $F307.7 million) from the Asian Development Bank (ADB) to undertake the Critical Bridges Resilience Project, which aims to replace four significant bridges on Viti Levu. This financial package consists of $US120 million ($F274.5 million) in concessional loans and an additional $US14.5 million ($F33.2 million) in grants, specifically aimed at bolstering infrastructure resilience in response to climate change.
Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, emphasized the urgency of addressing critical infrastructure needs to ensure that essential transport links can withstand extreme weather events. “These upgrades are vital for enhancing connectivity and promoting sustainable growth in Fiji,” he stated.
The project will lead to the replacement of the Lami, Medraukutu, Sabeto, and Viseisei bridges, which serve as crucial connections for communities, trade, and the tourism sector. This initiative aligns with Fiji’s National Development Plan, focusing on infrastructure that is resilient to climate challenges and the improvement of connectivity.
The loan from ADB comes with attractive conditions, featuring a 40-year repayment timeline and a 10-year grace period, allowing the Fijian Government to execute this essential project without significant fiscal strain. This collaboration not only reinforces the bond between Fiji and the ADB but also showcases the country’s commitment to improving infrastructure amidst the pressing realities of climate change.
This development offers a promising outlook for Fiji, demonstrating a proactive approach to safeguarding its infrastructure and enhancing its capability to face future challenges brought on by climate change. With strategic investments in resilient infrastructure, Fiji is setting the stage for long-term economic stability and growth.
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