The United States has announced an additional $20 million to enhance the Pacific Resilience Facility (PRF), building on its previous contribution of $5 million aimed at boosting climate resilience and adaptation in the region.
During a press roundtable on Wednesday, US Deputy Secretary of State Kurt Campbell emphasized the importance of various initiatives in which the US is investing significantly to strengthen the region’s climate resilience. Key initiatives include the introduction of a five-year program to increase access to climate finance, a $3.6 million investment to enhance disaster preparedness, and a commitment of $2 million to launch new climate-smart agriculture projects in collaboration with other partners.
Mr. Campbell reaffirmed the US’s commitment to supporting the region not only in terms of climate resilience but also in education, technology, connectivity, and efforts against illegal fishing. Additionally, the US will establish a $50 million microfinance facility aimed at supporting micro, small, and medium-sized enterprises (MSMEs) through four regional institutions.
He highlighted that these new initiatives represent a significant increase in assistance compared to previous years.
In related discussions, Fiji’s Permanent Secretary for Environment, Michael Sivendra, praised the PRF during a session, stating that the facility is designed to streamline access to climate finance. He recognized the PRF as a pioneering regionally-owned international organization dedicated to community resilience financing.