Asian Development Bank invests $438 million to improve Pacific transport
The Asian Development Bank says it will spend around $438 million over the next three years on improving transport in the Pacific region.
Transport routes from the Pacific to overseas markets are among the world’s longest.
Its 2013 Pacific Transport Update, released on Monday, says transport investment will be crucial in meeting the development challenges of the Pacific.
Robert Guild, director of Pacific Transport, Energy and Natural Resources, told Pimagazine Asia that ADB operations in the region will be focused on improving transport connectivity, integration and resilience.
“The thrust of our support to roads, shipping services and aviation is about making sure that people can get where they need to go reliably and safely in all weather, and that’s why we’re ramping up our assistance in these ways,” he said.
The ADB says transport projects in East Timor and Papua New Guinea will benefit from the investment, which is part of an existing portfolio on ongoing projects worth $1.8 billion.
It says Solomon Islands is another major beneficiary of funding to implement road, transport sector and domestic maritime projects.
Almost two-thirds of the funding of current operations is from the ADB and more than one third from governments and development partners including Australia, New Zealand, European Union, World Bank and Pacific Region Infrastructure Facility.