Australia partners with Fiji to drive climate resilient transport infrastructure
The Australian Government is supporting Fiji’s economic recovery and climate resilience with a $72 million financing package, which is Australia’s first sovereign loan to Fiji.
Provided through the Australian Infrastructure Financing Facility for the Pacific (AIFFP), the concessional, results-based package for the Fiji Transport Infrastructure Restoration Project includes a grant of $14.7 million.
The partnership has been signed in Suva today by the Hon. Aiyaz Sayed-Khaiyum, Fiji’s Attorney-General and Minister for Economy, Civil Service, Communications, Housing and Community Development, and Mr John Williams, Australian Chargé d’affaires.
It will support the renewal of more than 1.5 million square metres of road surface and the upgrading of nine key bridges throughout Fiji, to ensure road infrastructure is climate resilient.
The package refinances contracts under the Fiji Transport Infrastructure Restoration Project, providing the Fijian Government with greater flexibility, with repayments not required during a three-year grace period. It is linked to an agreed set of outcome indicators, enabling funds to be disbersed as key milestones are achieved.
This builds on Australia’s steadfast support to Fiji during the COVID-19 pandemic, and after three damaging cyclones in the past two years.
The Albanese Government is committed to deepening and strengthening our relationships with the Pacific family, including through partnerships to deliver much-needed transport infrastructure, boost economic activity and create local jobs.