AGP Executive Report
Last update: 5 hours agoTuvalu Investment: Papua New Guinea has committed PGK25 million over five years to Tuvalu’s land reclamation and coastal protection, with the first PGK5 million already transferred. The funding supports efforts to protect homes, infrastructure and communities from rising seas. Climate Finance: New pledges of about US$15 million have lifted the Pacific Resilience Facility to just under US$200 million, still short of its US$500 million target after COP31 and its longer-term US$1.5 billion goal. Funding Gap: Asian Development Bank President Masato Kanda says current adaptation finance covers only 26% of the Pacific’s projected annual needs, underscoring the challenge of funding resilience projects at the pace island economies require.
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