6 May 2016

Six Pacific states in line for ADB grant boosts

8:24 am on 6 May 2016

Six Pacific Island countries are to receive a 100 percent increase in their annual grants from the Asian Development Bank, from next year.

The Kiribati capital and most populated area, South Tarawa, consists of several islets, connected by a series of causeways.

The Kiribati capital and most populated area, South Tarawa, consists of several islets, connected by a series of causeways. Photo: Supplied

The countries are Federated States of Micronesia, Kiribati, Marshall Islands, Nauru, Palau and Tuvalu, according to the Director General of the ADB's Pacific Department, Xianbin Yao.

Speaking at the 49th ADB annual meeting in Frankfurt, Germany, Yao said this year's meeting was especially significant for the Pacific because the ADB has announced it will double its climate finance by 2020.

Pac News reports the ADB Pacific chief saying the ADB would increase to US$6billion its funds for climate financing with US$2billion allocated for adaptation projects.