FINANCE MINISTER SIGNED $22-M PROJECT WITH WORLD BANK

The Finance Minister has signed   over $20 million with the World Bank. Photo: PMC.

The Finance Minister has signed over $20 million with the World Bank. Photo: PMC.

Finance Minister Rick Hou has today signed funding agreements worth around 22-point-one million US dollars for two new projects for Solomon Islands with the World Bank.

The signing ceremony took place in Sydney, Australia and launches the Community Resilience to Climate Change and Disaster Risk in Solomon Islands Project – CRISP, for short.

The other project is new finances for the Sustainable Energy Project with the Solomon Islands Electric Authority.

A press statement today says CRISP is investing 9-point-1 million US dollars in climate and disaster risk information and early warning systems.

The project will also include community projects in climate change adaptation and disaster risk reduction in up to 4 provinces.

The agreement also signed over 13 million US dollars in new financing for the Sustainable Energy Project.

This new funding will build on SISEP’s achievements and enable investments to further strengthen power systems.

Finance Minister Hou signed the agreement with the World Bank Country Director for Pacific Islands, Franz Drees-Gross.

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