The United States is set to contribute an additional $20 million to the Pacific Resilience Facility (PRF), which aims to bolster the region’s capacity for climate resilience and adaptation. This new funding adds to the $5 million already allocated to the PRF.
During a press roundtable on Wednesday, US Deputy Secretary of State Kurt Campbell discussed the significant investments the US is making to enhance climate resilience in the region. Key initiatives outlined include a new five-year program designed to improve access to climate finance, an allocation of $3.6 million to enhance disaster preparedness, and a $2 million commitment for new climate-smart agriculture initiatives alongside various partners.
Mr. Campbell emphasized the US’s long-term commitment to supporting the region not just in climate resilience but also in education, technology, connectivity, and efforts to combat illegal fishing. Additionally, the US plans to introduce a $50 million microfinance facility aimed at assisting micro, small, and medium-sized enterprises (MSMEs) across four institutions in the area.
Highlighting the significance of these initiatives, Mr. Campbell remarked that they represent a marked increase in assistance compared to prior years.
At a PRF session, Fiji’s Permanent Secretary for Environment, Michael Sivendra, praised the facility as a pioneering regionally owned international entity designed for community resilience financing, aimed at simplifying access to climate funds.