The United States has announced an additional $20 million to support the development of the Pacific Resilience Facility (PRF), building on the $5 million already provided for the initiative aimed at enhancing climate resilience and adaptation in the region.
During a press roundtable on Wednesday, US Deputy Secretary of State Kurt Campbell discussed key areas where the US is investing to improve climate resilience in the Pacific. These initiatives include the introduction of a new five-year program to facilitate access to climate finance, an allocation of $3.6 million for disaster preparedness, and a $2 million commitment to promote climate-smart agriculture in partnership with other organizations.
Campbell emphasized the long-term commitment of the US to assist the region not only in climate resilience but also in education, technology, connectivity, and the fight against illegal fishing. Furthermore, the US plans to initiate a $50 million microfinance facility aimed at supporting micro, small, and medium-sized enterprises (MSMEs) across four regional institutions.
He highlighted that these new initiatives represent a significant enhancement in assistance compared to previous years.
Fiji’s Permanent Secretary for Environment, Michael Sivendra, praised the PRF during a recent session, noting its role as the first regionally owned international organization focused on community resilience financing, designed to streamline access to necessary climate finance.