Fiji to receive USD$80 million from the Asian Infrastructure Investment Bank (AIIB) in sovereign-backed financing to support efforts to strengthen economic resilience, enhance climate and disaster preparedness, and advance reforms that foster private-sector development.
The financing is provided under AIIB’s Energy, Food Security and Economic Resilience Facility and is co-financed with the World Bank.
The two institutions are providing a combined USD$230 million in fast-disbursing budget support to help implement the government’s reform program.
The program combines timely financial support with policy reforms to strengthen economic resilience, improve disaster preparedness and create a more enabling environment for private-sector growth.
These efforts come as Fiji continues to enhance its resilience to external economic uncertainties, including global supply disruptions, as well as climate-related shocks, which can affect public finances and investment in essential services.
Minister for Finance, Commerce and Business Development, Esrom Immanuel says they sincerely thank the Asian Infrastructure Investment Bank for its continued confidence in Fiji and for this significant financing, which comes at an important time as we advance key reforms to strengthen our economy and build resilience against future shocks.
He says this support complements our commitment to prudent fiscal management, climate resilience and creating a more enabling environment for businesses and investment.
Immanuel says together with their development partners, they are laying the foundation for a stronger, more inclusive and sustainable future for all Fijians.
The program is aligned with Fiji’s National Development Plan 2025-2029 and Vision 2050 and further reinforces AIIB’s longstanding partnership with Fiji.
AIIB remains committed to supporting the country’s development priorities by investing in sustainable infrastructure and further extending its Climate-focused Policy-based Financing program.
