ADB pushes Pacific-led finance as climate and debt pressures grow
Fiji, Sept. 3 -- The Asian Development Bank says it is working to expand access to affordable climate and development finance for Pacific Island countries without adding to their already heavy debt burdens, as governments confront rising climate risks and the high cost of building infrastructure across small and remote economies.
ADB President Masato Kanda said the Pacific faced unique and growing challenges, including frequent cyclones, sea-level rise, coastal erosion and the high cost of delivering infrastructure and services across widely dispersed islands.
Responding to a PACNEWS question at a media roundtable on the margins of the 55th Pacific Islands Forum Leaders' Meeting in Koror, Kanda said Pacific countries were central to the...
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