The Solomon Islands is poised to see substantial benefits from an enhanced partnership with the Asian Development Bank (ADB), which is increasing its focus on projects intended to transform the nation’s energy and education sectors, thereby fostering sustainable economic growth. ADB President Masato Kanda has reiterated the institution’s dedication to supporting the Solomon Islands in its pursuit of inclusive economic development driven by a thriving private sector.
In a recent meeting with Prime Minister Jeremiah Manele, Kanda detailed ADB’s considerable project portfolio in the Solomon Islands, valued at approximately $350 million, which places it among the largest portfolios in the Pacific region. The bank is channeling investments into critical infrastructure initiatives, notably the Tina River Hydropower Project. This project is anticipated to significantly boost economic growth, deliver affordable energy, and expand renewable energy access across various provinces.
Kanda stated that ADB is ready to increase its support through additional funding and flexible budget solutions. A major development in this partnership is the official inauguration of a full resident mission in the Solomon Islands, expanding ADB’s on-ground presence since it first established an office in 2008. This advancement underscores ADB’s strong intent to collaborate closely with the government and local communities.
During his visit, Kanda inspected the Tina River Hydropower Project site, which includes a 15-megawatt hydropower plant projected to cover around 70 percent of Honiara’s electricity needs upon completion. ADB’s backing for this multi-donor project includes an $18 million loan alongside a $12 million grant, highlighting a significant commitment to financial support.
Furthermore, Kanda toured the newly completed Honiara campus of the University of the South Pacific, which has benefitted from ADB funding allocated towards modernization efforts, enhanced facilities, and the incorporation of clean energy solutions. Engaging directly with students revealed the project’s positive impact on creating better educational resources and training opportunities for the youth of the Solomon Islands.
Through these initiatives, ADB not only strengthens the nation’s infrastructure but also sets the stage for improved educational access, exemplifying a promising outlook for advancement and development in the Solomon Islands.