Fiji is set to receive a significant financial boost of $304.4 million through loans and grants, following approval from the Asian Development Bank (ADB), as announced by the Cabinet. The funding is part of the Critical Bridges Resilience Project, aimed at enhancing the infrastructure of the nation.
The financing consists of approximately $271.6 million in concessional loans and around $32.8 million in grant funding. This investment will focus on replacing four bridges identified by the Fiji Roads Authority, with the project expected to be completed by 2031.
This initiative not only underscores the commitment towards improving Fiji’s infrastructure but also highlights the collaboration between the government and international financial institutions to strengthen resilience in the region. The funding represents a hopeful step towards better connectivity and safety for the communities reliant on these critical structures.
In summary, the ADB’s support will play a crucial role in bolstering Fiji’s infrastructure, enhancing travel and trade, and promoting economic development in the years to come.
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