New ADB facility to improve transport projects in Solomon Islands
13 September, 2018, 6:39 pm
HONIARA, SOLOMON ISLANDS (13 September 2018) — The Board of Directors of the Asian Development Bank (ADB) has approved a $6 million grant to finance a Transport Sector Project Development Facility for the Solomon Islands. The facility aims to improve the design and implementation of priority transport projects in the road, maritime, and aviation sectors.
“ADB is committed to supporting the government to ensure that all Solomon Islanders have better access to essential services and markets,” said ADB’s Pacific Liaison and Coordination Office Regional Director Ms. Emma Fan. “This facility will help improve the design and implementation quality of priority projects covered in the government’s Medium-Term Transport Action Plan.”
The facility, financed from the Asian Development Fund, will fund project feasibility studies and detailed designs; support procurement as well as social and environmental safeguards activities at the start of project implementation; and provide capacity building to implementing agencies.
Weak project readiness can cause long delays in project implementation, contribute to cost and time overruns, and lead to project designs that fall short of achieving development targets.
ADB is helping increase connectivity in Solomon Islands by constructing and upgrading key transport infrastructure and supporting the maintenance of transport assets. These investments aim to deliver safe, efficient, and reliable transport services to connect people with the resources and opportunities they need to thrive.
The Ministry of Infrastructure Development, Solomon Islands Port Authority, and Ministry of Communication and Aviation will be the facility’s main beneficiaries. The total cost of the project is $6.96 million.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 67 members—48 from the region. In 2017, ADB operations totaled $32.2 billion, including $11.9 billion in cofinancing.