ADB on a mission to tour key projects and engage in discussions on critical development issues

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The Solomon Islands Government and the Asian Development Bank (ADB) continue to build upon their long-standing partnership, with both parties reaffirming their commitment to advancing shared prosperity and sustainable development.

The ADB Board of Directors are in the country on a mission to tour key project sites, meet with country leaders, and engage in discussions on critical development issues.

This week, the ADB Board of Directors paid a courtesy call on Prime Minister Jeremiah Manele. The meeting provided Prime Minister Manele with an opportunity to highlight key national priorities and underscore the importance of continued collaboration between the Solomon Islands and ADB in achieving mutual development goals.

Manele emphasized the Government’s commitment to tourism as a central pillar of the country’s economic diversification strategy. He highlighted the significant increase in this year’s budget allocation for tourism, which underscores the government’s dedication to supporting and developing the sector.

“To fully realize the potential of tourism, it is crucial that we strengthen partnerships with development partners like ADB. Key areas of focus include enhancing airport infrastructure, expanding road networks to key tourist destinations, and ensuring reliable utilities to create a conducive environment for tourism growth.”

In addition, the Prime Minister emphasized the importance of investing in human capital through vocational training and hospitality programs, which are essential for raising service standards and increasing local participation in the industry. He also stressed the need to integrate sustainable tourism practices, focusing on climate resilience and environmental conservation.

Manele also expressed appreciation for ADB’s ongoing support in financing critical infrastructure projects and providing technical assistance to enhance local capacity, ensuring effective implementation and project success.

Supporting private sector growth, particularly small and medium-sized enterprises (SMEs), is central to the Government’s economic policies. The Prime Minister outlined key initiatives, including improving access to capital and reducing business costs, especially through lower utility prices.

Apart from efforts to reduce electricity cost, the Government is working on reforms to separate regulatory functions from operations, PM Manele stated.

He welcomed ADB’s commitment to increasing climate finance and called for a differentiated approach that recognizes the unique needs of developing member countries in tackling climate change.

On renewable energy, the Prime Minister acknowledged ADB’s significant role in supporting the Tina River Hydro project, which will meet more than half of the country’s energy demand.

The Solomon Islands Government is currently designing the next country partnership strategy, focusing on economic diversification and private sector development to achieve sustained annual growth rates of over 5%, in line with the national development strategy.

The Prime Minister stated, with the growing demand for ADB’s support and the expanding portfolio of projects, the Solomon Islands Government fully supports ADB’s plan to upgrade the existing Pacific Country Office to a permanent resident mission. This move will further strengthen collaboration between the two parties.

The timely support and progress to fast track the Central Market to White River Road under the Land and Maritime Connectivity Project was also highlighted. This project will significantly benefit the nation and contribute to regional development.

Appreciating the warm welcome, ADB Executive director, Mr. Made Arya Wijaya said, the visit is pivotal for ADB. It provides the Board with firsthand insight into the challenges faced by the Solomon Islands while also laying the foundation for future programs that will further enhance economic growth, poverty reduction, and regional cooperation.Executive director Wijaya adds, ADB is a committed partner in advancing sustainable development and shared prosperity. The strengthening of the SI-ADB partnership will continue to be a key driver for future progress.

Mr. Wijaya also reaffirmed ADB’s support in National Transport Fund.

ADB and the World Bank play crucial roles in supporting the Solomon Islands’ national budget, contributing significantly to fiscal stability.

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OPMC Press Release

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