ADB Backs Fiji's Crisis Response and Long-Term Resilience with $210 Million
Fiji, Sept. 16 -- The Asian Development Bank (ADB) will deploy $210 million to help Fiji contain the economic fallout from the Middle East conflict, protect households and businesses, and prepare for future economic and environmental shocks. Fiji faces challenges common to small island developing states, such as remote locations, small and dispersed populations, the outward migration of skilled workers, high costs of doing business, and limited access to finance. Persistently high energy prices due to the Middle East conflict and the anticipated impacts of El Niño are likely to slow economic growth this year.The financing is for the second phase of the ADB-led Fiji Sustainable and Resilient Growth Program, and comprises a $200 million loan ...
To read the full article or to get the complete feed from this publication, please
Contact Us.