Arlington, VA – At the first-ever U.S.-Pacific Island Country Summit, hosted by President Biden, the U.S. Trade and Development Agency announced new funding for project preparation assistance designed to catalyze financing for infrastructure projects throughout the Pacific Islands. The funding will come through the Biden-Harris Administration’s Pacific Island Countries Strategic Infrastructure Initiative (PICSII).
“USTDA’s goal is to leverage this funding to unlock tens or even hundreds of millions of dollars in infrastructure financing in Pacific Island countries, through partnerships that are based on trust and collective prosperity,” said Enoh T. Ebong, USTDA’s Director. “Our focus will be on the development of sustainable, resilient, and high-quality infrastructure in collaboration with U.S. industry.”
At the Summit, Director Ebong also announced that USTDA will bring Pacific Island port leaders to the United States in 2023 to identify innovative technologies, financing options, and best practices to advance port operations, security, and sustainability across the Pacific Islands. In the aviation security sector, USTDA will host representatives from Fiji, Kiribati and Samoa, among other Indo-Pacific partners, for a business briefing with U.S. industry on November 2, 2022, in Washington, D.C. Details related to these events will be posted on USTDA’s website at a later date.
Through PICSII, USTDA will be able to significantly expand its support for priority infrastructure projects throughout the Pacific Islands, where the Agency’s current portfolio includes project preparation activities in Papua New Guinea, the Solomon Islands, and Tonga.
USTDA’s Pacific Island programming advances the objectives of the Partnership for Global Infrastructure and Investment (PGII), the President’s Emergency Plan for Adaptation and Resilience (PREPARE), and USTDA’s Global Partnership for Climate-Smart Infrastructure.
The U.S. Trade and Development Agency helps companies create U.S. jobs through the export of U.S. goods and services for priority infrastructure projects in emerging economies. USTDA links U.S. businesses to export opportunities by funding project preparation and partnership building activities that develop sustainable infrastructure and foster economic growth in partner countries.
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