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Economy Climate change Insurance plan P17
Meg Taylor Face-to-face P15

FORUM RESOURCES AGRICULTURE Islands Business

ADB to loan Fiji $341.1m

Consistent economic policies such as in agriculture has boosted Fiji’s recovery from natural disasters , as it did
from Cyclone Winston. Below: Among the ADB’s investments is Fiji’s urban water supply system, Photos: File
Confidence in

Fiji economy

By Anish Chand
THE Asian Development Bank has ear-
marked $341.1million in firm and tenta-
tive investments between 2018-2020.
The ADBs country operations plan for
Fiji 2018-2020 reveals this funding will The ADB has confidence in the Fijian clone Winston, the ADB notes that Fiji is
be directed to three specific areas. economy, according to the operations vulnerable to natural disasters.
Of the amount, $180million will be plan document. Since 1970, when Fiji became a mem-
to facilitate private-sector-led growth - “Since 2014, total investment in Fiji ber of the Asian Development Bank, the
$50 million will be co-financed from the has exceeded the government’s target ADB has committed $562.0million in
World Bank. of 25per cent of gross domestic product loans, $37.0m in grants, and $32.2mil-
In 2019, the ADB will provide (GDP), largely driven by higher public lion in technical assistance to Fiji.
$111.1million towards an Urban Water expenditure to address infrastructure This is the fourth country operations
Supply and Wastewater Management gaps, particularly in transport and water plan for Fiji and is developed every two
Investment Program. and sanitation,” says the ADB report. years.
Co-financiers of this project will be the “With investor confidence growing The 2018-2020 plan has a focus on
European Investment Bank, the Green as a result of political stability and raising Fiji’s longer-term growth poten-
Climate Fund, and the Fijian Govern- consistent economic policies, private tial, building resilience and reducing vul-
ment. investment remains buoyant,” the re- nerability, and reducing poverty through
By 2020, $50million will be allocated port states. more inclusive growth and better service
for a potential new transport (ports) With Fiji recovering from the $1.36bil- delivery.
infrastructure investment. lion in damage caused by Tropical Cy- q achandftv@gmail.com

Islands Business, October 2017 5