The United States has announced an additional $20 million in funding to bolster the Pacific Resilience Facility (PRF). This new commitment builds upon the $5 million already allocated to the PRF, which aims to enhance climate resilience and adaptation in the region.
During a press roundtable on Wednesday, US Deputy Secretary of State Kurt Campbell emphasized key investment areas where the US is committing significant resources to strengthen climate resilience in the Pacific. These initiatives include a new five-year program aimed at improving access to climate finance, a $3.6 million investment to enhance disaster preparedness, and a $2 million commitment to support climate-smart agriculture projects in partnership with other organizations.
Campbell affirmed the United States’ long-term dedication to supporting the region, focusing not only on climate resilience but also on education, technology, connectivity, and combating illegal fishing. Furthermore, the US will introduce a $50 million microfinance initiative to aid micro, small, and medium-sized enterprises (MSMEs) across four institutions in the region.
He noted that these new initiatives represent a significant increase in assistance compared to previous years.
Fiji’s Permanent Secretary for Environment, Michael Sivendra, expressed his support for the PRF during a session. He highlighted the facility’s goal of making climate finance more accessible and praised it as the first regionally owned international organization aimed at financing community resilience effectively.