Suva: World Bank and Asian Development Bank today announced two first-ever projects to tackle non-communicable diseases and infrastructure development in two Pacific island countries.
According to Bangladesh Sangbad Sangstha, the $236.5 million project will be delivered under an innovative co-financing model named the Full Mutual Reliance Framework to boost development impact. World Bank Group President Ajay Banga and Asian Development Bank (ADB) President Masato Kanda announced the project for Fiji and Tonga, as stated in an ADB press release.
The two projects will deliver a major health modernization initiative in Fiji and an integrated transport, urban, and water infrastructure development in Tonga. The framework will allow countries to work with a single lead lender, either ADB or the World Bank, guiding all aspects of project design, preparation, supervision, and evaluation.
‘Our goal is to make development finance simpler, faster, and more effective,’ said ADB President Masato Kanda. World Bank Group President Ajay Banga emphasized that this framework is an important step forward for the WB and ADB, and more importantly, for the countries and communities relying on them to deliver real results.
The World Bank-led healthcare project in Fiji will modernize primary healthcare networks and support a new, state-of-the-art regional hospital. This will provide people across the Pacific greater access to treatment for cancer, cardiovascular disease, diabetes, and other major health conditions.
The ADB-led Sustainable Economic Corridors and Urban Resilience (SECURE) project in Tonga will make transformational infrastructure upgrades to Greater Nuku’alofa’s transport network and urban drainage systems, including the 720-meter-long Fanga’uta lagoon bridge. The investments aim to reduce traffic congestion, improve market access for rural residents, and enhance connectivity to essential infrastructure, including the airport and the port. It will also provide secure evacuation routes during disaster events, including tsunamis.