ADB, Partners Launch Ship as Part of Strengthening Domestic Shipping Project for Tuvalu
Business
Tuvalu’s Minister for Transport, Energy, Communication, and Innovation Simon Kofe, led the Tuvalu government delegation at the ship launching ceremony. He was joined by ADB Deputy Director General for the Pacific Hideaki Iwasaki, and Honda Heavy Industries Co. Ltd President Hisaaki Masuda, to launch the vessel.
ADB’s Special Funds resources from the Asian Development Fund (ADF), will provide $30 million and the Government of Tuvalu will contribute $3 million. The ADF provides grants to ADB’s poorest and most vulnerable developing member countries.
The only means of transport between Tuvalu’s capital Funafuti and the outer islands is by sea. The new ship will ensure safer and more transfer of people and goods and will improve people’s livelihoods in the outer islands and promote economic development.
The project supported by ADB and Tuvalu will improve people’s livelihoods in the outer islands of Tuvalu, its capital Funafuti, and neighboring countries, Fiji and Kiribati.
The project will also rehabilitate port auxiliary infrastructure (fenders) and build the operation and maintenance capacity of the Ministry of Transport, Energy and Tourism to ensure the sustainability of the investment.