The United States has announced an additional $20 million to support the development of the Pacific Resilience Facility (PRF). This funding follows an earlier contribution of $5 million aimed at bolstering the region’s climate resilience and adaptation efforts.
During a press roundtable on Wednesday, US Deputy Secretary of State Kurt Campbell emphasized the significant financial investments and resources the US is committing to enhance climate resilience in the region. Among the key initiatives is a new five-year program designed to improve access to climate finance, along with a $3.6 million investment to fortify disaster preparedness, and a $2 million commitment to promote climate-smart agriculture initiatives in partnership with other collaborators.
Mr. Campbell reiterated the US’s long-term commitment to the region, addressing not only climate resilience but also 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) in the region through four local institutions.
He highlighted that these new initiatives represent a significant increase in assistance compared to previous years.
Fiji’s Permanent Secretary for Environment, Michael Sivendra, noted during the PRF talanoa session that the facility aims to streamline access to climate finance. He praised the PRF as the first regionally owned international organization dedicated to providing tailored financial support for community resilience efforts.