The Australian Infrastructure Financing Facility for the Pacific (AIFFP) has built a project pipeline of about AUD300m for the current fiscal year, which ends on 30 June 2021. If these projects get the green light, then Australia will become the second largest infrastructure financier to Pacific governments behind the Asian Development Bank (ADB). The Australian government has also committed AUD1bn in aid money for the Pacific for the 2020-21 year, with an additional one-off allocation of AUD300m to deal with the effects of COVID-19. Donor funding and funds for infrastructure projects are critical for the Pacific region. The narrow-based economies provide limited resources for governments who have to juggle competing priorities, and infrastructure investment is often the casualty. Hence, we view Australia’s increased support of the Pacific as a positive development for the region.
APIBC offers support for Vanuatu’s business community
The President, Mr Simon Gorman, executive and members of the Australian Pacific Islands Business Council were shocked...
