ADB and Gov’t sign agreement to fund priority transport projects
The Asian Development Bank (ADB) and the Government of Solomon Islands today signed a grant agreement to fund a new facility which will finance the design and implementation readiness of the government’s priority transport projects.
The agreement establishing the Transport Sector Project Development Facility was signed by Solomon Islands Permanent Secretary for Finance and Treasury, Harry Kuma and ADB’s Pacific Liaison and Coordination Office Regional Director Ms. Emma Fan at a ceremony in Honiara during a visit by members of the Board of Directors of ADB to the country.
ADB Executive Directors Mr. In-chang Song, Mr. Tony McDonald, Mr. Syurkani Ishak Kasim, Mr. Shahid Mahmood, Mr. Philip Rose, Mr. Kris Panday, Mr. Mahbub Ahmed, and Mr. Enrique Galan witnessed the event.
Mr Kuma said the Ministry of Infrastructure Development, Solomon Islands Port Authority, and the Ministry of Communication and Aviation will all benefit from the facility, which will help deliver projects faster and improve connectivity in the country.
He said the new facility will help them better support the long-term sustainability of our investment in transport in Solomon Islands.
The Transport Sector Project Development Facility approved in September by ADB’s Board of Directors, will prepare feasibility studies and designs for transport projects, provide implementation support for procurement and social safeguard activities at the beginning of the project cycle, and provide training for project implementing agencies.
It will help increase investment in the transport sector, preserve key assets, reduce delays in project implementation, and improve the quality of project designs.