Posted on 11 May 2023
Australian and New Zealand governments have together committed US$ 90 million to the PNG and the Pacific Islands Umbrella Facility (PPIUF), which will support World Bank initiatives across the Pacific region.
The World Bank finances more than 95 projects across the region, and this latest increase in funding will work towards improving health, education, social protection and climate adaption in Pacific communities. In particular, it will assist in Tonga’s ongoing disaster recovery, Papua New Guinea's engagement in labour mobility schemes and strengthening infrastructure in the Solomon Islands.
“The PPIUF reflects an innovative new phase in the long-standing partnership between Aotearoa New Zealand, Australia and the World Bank to support and strengthen Pacific resilience”, stated Bernadette Cavanagh, Deputy Secretary of the New Zealand Ministry of Foreign Affairs and Trade’s Pacific and Development Group.
“Aotearoa New Zealand is pleased to be part of this initiative, which will bring together our resources, technical expertise and experience for the benefit of the region.”