The Pacific Islands Forum has confirmed that US$165 million has been pledged toward the capitalisation of the Pacific Resilience Facility.
The PRF is a Pacific-led initiative designed to support vulnerable communities across the region in responding to the impacts of climate change.
Forum leaders ratified the treaty establishing the PRF during their meeting in Honiara, Solomon Islands, this week.
At the conclusion of the meeting, it was confirmed that several development partners have committed funding to the facility.
These include Saudi Arabia, China, the United States, Japan, Germany, France, and Taiwan.
Among PIF member countries, Australia, New Zealand, and Nauru have also made pledges.
The PIF Secretariat has been tasked with intensifying strategic engagement with development partners to secure additional contributions.
The initial fundraising target for the PRF is set at US$500 million.
The treaty will be presented at the upcoming United Nations General Assembly in New York later this month
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