ADB Pacific support scaled up
May 1, 2019 12:55 pm
The Asian Development Bank are walking the talk on climate change as a key area with development assistance prioritized.
Speaking at ADB’s 52nd annual meeting of its board of governors, Director General Pacific, Carmela Locksin says they are scaling up the financial and technical support for the region.
In addition, there is significant co-financing that the ADB has confirmed with the Global Climate Fund that will further assist Pacific Island Countries.
“We are scaling up our Asian Development Fund allocations from $6 to $13 million a year for the next two years for 2019 and 2020, as you may see this was quite the vital boost in concessional financing resources for many of our client countries in the Pacific.”
The ADB will also increase its physical presence across the 11 Pacific developing member countries with the establishment of country offices in each of them.