The United States is set to allocate an additional $20 million to bolster the development of the Pacific Resilience Facility (PRF). This new funding follows an earlier contribution of $5 million aimed at enhancing the region’s climate resilience and adaptation efforts.
During a press roundtable on Wednesday, US Deputy Secretary of State Kurt Campbell underscored various key initiatives where the US is directing significant resources to improve climate resilience in the region. These initiatives include a new five-year program focused on increasing access to climate finance, an investment of $3.6 million to strengthen disaster preparedness, and a commitment of $2 million to promote climate-smart agricultural practices in collaboration with other partners.
Mr. Campbell reaffirmed the US’s long-term commitment to the region, extending support not only in climate resilience but also in areas such as education, technology, connectivity, and the fight against illegal fishing. Additionally, the US plans to introduce a $50 million microfinance facility aimed at supporting micro, small, and medium-sized enterprises (MSMEs) through four regional institutions.
Mr. Campbell emphasized that these new initiatives represent a significant increase in support compared to recent years.
Fiji’s Permanent Secretary for Environment, Michael Sivendra, participating in the PRF talanoa session, highlighted that the facility is specifically designed to facilitate easier access to climate finance. He praised the PRF as the first regionally owned international organization tailored to serve as an effective financial institution dedicated to community resilience financing.