The United States has announced an additional $20 million to support the development of the Pacific Resilience Facility (PRF). This contribution follows an earlier $5 million investment aimed at enhancing climate resilience and adaptation in the region.
During a press roundtable on Wednesday, US Deputy Secretary of State Kurt Campbell emphasized several important areas where the US is allocating significant funds and resources to improve climate resilience in the Pacific. These initiatives include the launch of a new five-year program to enhance access to climate finance, an investment of $3.6 million to improve disaster preparedness, and a commitment of $2 million to promote climate-smart agriculture initiatives in collaboration with other partners.
Mr. Campbell reaffirmed the US’s long-term commitment to the region, extending beyond climate resilience to encompass education, technology, connectivity, and the fight against illegal fishing. Additionally, the US plans to establish a $50 million microfinance facility to support micro, small, and medium-sized enterprises (MSMEs) across four regional 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, remarked during the PRF talanoa session that the facility is intended to facilitate access to climate financing. He praised the PRF as the first regionally-owned international organization aimed at providing tailored financial support for community resilience.