Fiji has secured a significant financial boost of $304.4 million in loans and grants from the Asian Development Bank (ADB), as confirmed by a Cabinet statement. This funding is part of the Critical Bridges Resilience Project aimed at enhancing the nation’s infrastructure.
The financing package consists of approximately $271.6 million in concessional loan financing and about $32.8 million in grant financing. This investment will be directed towards replacing four bridges identified by the Fiji Roads Authority, addressing vital infrastructure needs that are crucial for enhancing connectivity and resilience in the region.
The project is expected to be completed by 2031, marking a long-term commitment to improving Fiji’s transportation infrastructure.
This funding not only reflects international confidence in Fiji’s development plans but also underscores the importance of safe and resilient infrastructure for the growth of the nation’s economy. Each new bridge will contribute to enhanced connectivity, which is a key factor in supporting local communities and fostering economic development.
In summary, this initiative by the ADB is a hopeful sign of progress for Fiji, enabling the nation to bolster its infrastructure while promoting sustainable growth and resilience against future challenges.
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