Fiji has successfully secured $134.5 million from the Asian Development Bank (ADB) to undertake the Critical Bridges Resilience Project, which aims to replace four vital bridges on the island of Viti Levu. This financial package includes $120 million in concessional loans and $14.5 million in grants, designed specifically to bolster the infrastructure’s resilience against the impacts of climate change.
Deputy Prime Minister and Finance Minister, Professor Biman Prasad, stated that the loan addresses urgent infrastructure needs and ensures that crucial transport links can withstand extreme weather events. He emphasized that these upgrades are vital for enhancing connectivity and fostering sustainable long-term growth in Fiji.
The project will involve the replacement of the Lami, Medraukutu, Sabeto, and Viseisei bridges, which play a key role in connecting communities, facilitating trade, and supporting the tourism sector. The improvements align with Fiji’s National Development Plan, which focuses on establishing climate-resilient infrastructure and improving connectivity.
Notably, the loan terms are favorable, offering a 40-year repayment period and a 10-year grace period. This structure provides the Fijian government with the flexibility to execute the projects without significant fiscal stress.
This agreement not only strengthens the collaboration between Fiji and ADB but also supports the nation’s ongoing initiatives to enhance infrastructure and adapt to climate challenges, marking a progressive step towards a more resilient future.
In summary, Fiji is taking significant strides to improve its infrastructure with the support of ADB, ensuring a sustainable and resilient future for its communities.
Overall, this initiative reflects a proactive approach to climate adaptation and acknowledges the essential role of resilient infrastructure in fostering economic growth and securing the well-being of Fiji’s citizens.
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