At COP 23 in Bonn, the EIB announced new support to better protect water infrastructure against extreme weather events in Fiji. The $405 million 20-year EIB loan aims to strengthen the resilience of water distribution and wastewater treatment following Cyclone Winston, the world’s second strongest storm ever recorded, that hit Fiji in February 2016. It is the EIB’s largest ever loan in the Pacific and largest ever support for water investment in a small island state by the world’s largest water financier.
“This welcome financing will be used with funding from the Green Climate Fund, the Asian Development Bank and the Fijian Government. A great many people in Fiji will benefit from this project, which will cost a total of approximately USD 400 million, and I am grateful to the EIB for its support and its foresight. Financing of projects to build resiliency in developing countries is critical, and I sincerely hope that this project can serve as a model for other developing countries that wish to access blended financing on behalf of their own people,” said Frank Bainimarama Prime Minister of Fiji and President of COP23.
Source:
https://cleantechnica.com/2017/12/03/405-million-protect-water-infrastructure-extreme-weather-events-fiji/
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