[Photo: FILE]

Fiji is set to benefit from three major climate financing initiatives aimed at protecting coral reefs, strengthening infrastructure and supporting climate-resilient livelihoods across the Pacific.

The Green Climate Fund is providing approximately FJ$79.3 million towards the $95.9 million Fiji Coral Reef Resilience Project, which will focus on protecting the Great Sea Reef and communities that depend on it.

The project will restore more than 3,000 hectares of mangrove and riverside forest ecosystems while strengthening climate-resilient management across 2.58 million hectares of coral reefs.

GCF Regional Director for Asia and the Pacific Hemant Mandal says the investment is expected to benefit 40 percent of Fiji’s population.

He says the project demonstrates the importance of Pacific leadership, national ownership and partnerships in addressing climate change.

WWF-Fiji Great Sea Reef Programme Manager Margaret Tabunakawai-Vakalalabure says the investment provides an opportunity to protect the reef while improving the livelihoods and resilience of coastal communities.

Meanwhile, Fiji is among 14 Pacific Island countries set to benefit from the Regional Programmatic Approach on Climate Action.

The approximately $2.39 billion programme includes a $563.1 million GCF grant to strengthen climate-resilient infrastructure and essential services across the region.

Mandal says the programme is expected to support up to 26 infrastructure and adaptation financing sub-projects over the next ten years, benefiting approximately 3.7 million people across the Pacific.

Fiji will also benefit from the Matanataki Pacific Fund 1, a women-led climate adaptation investment initiative targeting businesses in Fiji, Tonga and Vanuatu.

The fund will receive approximately $33.8 million in GCF equity investment to help mobilise a total of $135.1 million for locally led businesses supporting reef resilience and sustainable livelihoods.

The initiative is expected to contribute to the restoration or protection of more than 50,000 hectares of land and marine ecosystems.

Mandal says the investment will also support women’s economic participation and strengthen community resilience to climate change.