ADB joins hands with Japan to improve maritime transport in Solomon Islands |
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Thu, 18 Oct 2007 06:11
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MUMBAI (Thomson Financial) - The Asian Development Bank (ADB) and the Japanese government will assist the Solomon Islands in preparing a project for improving the efficiency, safety and reliability of the island nation's maritime transport.A 2 mln usd grant from the Japanese government's Japan Special Fund will finance the project preparation and ADB will manage the fund. The Solomon Islands government will finance 500,000 usd equivalent for the project through domestic resources.ADB said the project aims to improve transportation, infrastructure and services, which will help reconnect rural communities with domestic and international markets.The renewed access will contribute to the rebuilding of rural economies, fostering private sector and rural income opportunities and will assist in restoring basic social services such as health and education to rural areas, the bank said.In addition to enhancing maritime transport, the assistance will help Solomon Islands government's ministry of infrastructure, better manage and finance the implementation of recommendations from previous technical assistance projects, ADB said.TFN.newsdesk@thomson.comndi/manCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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