2 Feb 2015

World Bank to increase Pacific development support

11:19 am on 2 February 2015

The World Bank Group says it will continue to increase its support to its member countries in the Pacific in coming years.

World Bank country director for Asia and the Pacific, Franz Drees-Gross, has been in Solomon Islands signing off on the latest lot of credits and grants more than 23 million US dollars.

He says the banks support to the region is going to continue to grow.

"Five years ago the volume of projects that we had under implementation across the pacific was worth about $US450 million. We are now close to a billion dollars in projects. So we've scaled up significantly in the Solomon Islands as well, we are in the process of re-engaging with Fiji and scaling up in a number of countries. So we're set for further growth."

Franz Drees-Gross has signed off on three projects relating to economic reform, community development and fisheries management.