ADB endorses new country partnership with Fiji
April 12, 2019 8:01 am
In a new partnership, the Asian Development Bank has strengthened it’s engagement with Fiji with funding of more than a billion dollars in the next five years.
As part of the Fiji-ADB Country Partnership Strategy for 2019 to 2023, the up-scaled support will focus on promoting private sector investment as well as assisting government in achieving sustained and inclusive growth.
ADB Country Head Eric Aelbers says officially the bank is one of Fiji’s biggest development partners.
“Now over the period 2019 to 2023, we anticipate making available 600 US dollars to the government of Fiji in new project commitments which is equivalent to about one point three billion Fiji dollars.”
The previous partnership in the last five years was estimated at over $400 million.
ADB’s Regional Director, Masayuki Tachiiri says the new engagement has been scaled up.
“Obviously the number one reason is that the government is willing to work further with ADB and also the Fiji government, Fiji’s economy is growing further so we have opportunity to work further.”
Other areas of focus will include policy and regulatory reforms.