The Asian Development Bank (ADB) has approved a $25.45 million grant to help Solomon Islands develop a sustainable, inclusive, and climate resilient water supply and sanitation services.
Read also – Riverside Raises $30 Mn Series C Funding
This second additional financing comes from the Asian Development Fund, which provides grants to ADB’s poorest and most vulnerable developing member countries.
Read also – Foodtech Startup Gavan Secures $8 Mn Series A Funding
“This project will deliver safer, more reliable water and sanitation services to communities in Solomon Islands’ urban areas, boosting health and quality of life,” said ADB’s Pacific Liaison and Coordination Office Regional Director Shane Rosenthal.
The Urban Water Supply and Sanitation Sector Project is implementing high-priority components of the government’s water and sanitation sector plan to increase access to piped water supply and sanitation services, enhance hygiene awareness, promote water conservation, and improve fecal sludge management. The Greater Honiara area and the towns of Auki, Gizo. Munda, Noro and Tulagi are target areas for the project.
The second additional financing will help meet cost overruns incurred from the growing cost of goods and works which have increased significantly since March 2020.
The $125 million project is being funded by ADB, the World Bank, the Global Environment Facility, and the European Union.
About ADB
The Asian Development Bank (ADB) is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. It assists its members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development. Established in 1966, it is owned by 69 members—49 from the region.
