The United States is set to allocate an additional $20 million to support the Pacific Resilience Facility (PRF), following an earlier contribution of $5 million. The PRF is a financing initiative aimed at enhancing climate resilience and adaptation in the Pacific region.
During a press roundtable on Wednesday, US Deputy Secretary of State Kurt Campbell emphasized the US’s significant investments in various areas to bolster climate resilience in the region. Notable initiatives include a new five-year program to increase access to climate finance, an allocation of $3.6 million to improve disaster preparedness, and a commitment of $2 million to promote climate-smart agriculture in collaboration with other partners.
Mr. Campbell affirmed the US’s long-term commitment to the region, extending beyond climate resilience to areas such as education, technology, connectivity, and the fight against illegal fishing. Furthermore, the US plans to launch a $50 million microfinance facility aimed at assisting micro, small, and medium-sized enterprises (MSMEs) across four regional institutions.
He remarked that these new initiatives represent a significant enhancement compared to the assistance provided in recent years.
Fiji’s Permanent Secretary for Environment, Michael Sivendra, acknowledged the PRF during the talanoa session, praising it as the first regionally owned international organization designed to provide accessible climate finance and support community resilience.