ADB provides $53m funding for Solomon Islands’ transport project

The Asian Development Bank (ADB) said on Monday it would provide a second tranche of financing totalling $53 million for the Government of Solomon Islands’ Land and Maritime Connectivity Project.

The project aims to enhance transport infrastructure in the country and improve connectivity between rural and remote areas, according to ADB’s statement.

“Developing a sustainable transport network will help drive robust socioeconomic growth in Solomon Islands,” ADB Senior Transport Specialist Rika Idei said. “The project will better connect people in rural and remote areas to markets, health, and education services.”

The Land and Maritime Connectivity Project will receive funding through a $74.4 million concessional loan and a $74.5 million grant from the Asian Development Fund to support developing member countries of the ADB.

The Solomon Islands government is contributing $21.8 million of the project’s total cost of nearly $171 million. The project is a 10-year financing facility to support the country’s transport sector.

Maritime transport infrastructure will be improved in the second tranche, with work beginning for the provincial wharves in Kira Kira and Ahanga. Marketplaces and passenger buildings will also be included.

Attribution: The Asian Development Bank report

Subediting: Y.Yasser