ADB Launches Five-Year Strategy to Boost Fiji’s Economic and Climate Resilience
MANILA, PHILIPPINES – September 24, 2024 – The Asian Development Bank (ADB) has launched a new five-year Country Partnership Strategy (CPS) with Fiji, aiming to strengthen the island nation’s resilienceagainst economic and climate change-related shocks. The strategy, covering the period 2024-2028, outlines ADB’s commitment to supporting Fiji’s sustainable development goals.
According to the ADB’s plan, the CPS will prioritize support for Fiji in several key areas. These include:
- Strengthening Public Sector Management: The ADB will assist Fiji in improving its public sectorgovernance and financial management systems, crucial for effective resource allocation and policy implementation.
- Climate-Resilient Infrastructure: The strategy emphasizes enhancing the resilience of Fiji’s transportation infrastructure, particularly against the impacts of climate change, such as rising sea levels andextreme weather events. This will involve investing in infrastructure upgrades and adopting climate-smart design principles.
- Urban Water and Sanitation Systems: The ADB will focus on improving the resilience of Fiji’s urban water and sanitation systems, making them better equipped to withstand natural disasters and climate-related challenges.
- CoastalCommunity Protection: Recognizing the vulnerability of coastal communities, the ADB will collaborate with Fiji to implement measures that protect these areas from the impacts of climate change, such as coastal erosion and sea-level rise.
- Healthcare Infrastructure Upgrades: The strategy includes supporting upgrades to Fiji’s healthcare infrastructure, ensuring its capacity to providequality services and respond effectively to health emergencies.
- Renewable Energy Transition: The ADB will work with Fiji to promote the transition towards a more sustainable energy sector, with a focus on increasing the use of renewable energy sources and reducing dependence on fossil fuels.
The ADB highlighted that the new strategy builds upon its existing support forFiji, aiming to further strengthen the country’s public finances, enhance the quality of infrastructure and public services, and foster green and diversified growth in the private sector.
The implementation of this strategy reflects the strong partnership between the Fijian government and the ADB, said Biman Prasad, Fiji’s Deputy Prime Minister and Ministerfor Finance, Strategic Planning, National Development and Statistics. It will provide critical support for the successful implementation of Fiji’s National Development Plan 2025-2029.
Since 1970, the ADB has provided Fiji with $991 million in financial support through 117 projects, encompassing public sector loans, grants, and technical assistance.
The ADB, established in 1966 with headquarters in Manila, Philippines, currently has 68 members, including 49 from the Asia-Pacific region. The bank plays a vital role in promoting sustainable development and reducing poverty inthe region.
The launch of this new CPS signifies the ADB’s commitment to supporting Fiji’s efforts to build a more resilient and sustainable future, particularly in the face of growing climate challenges. The strategy’s focus on strengthening public sector management, enhancing infrastructure resilience, and promoting a green transition will be crucial for Fiji’s long-term development and prosperity.
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