Fifteen Pacific Islands Forum member countries in Solomon Islands last week co-signed an agreement to establish the Pacific Resilience Facility (PRF) which will be headquartered in Tonga.
Our global climate leadership is moving to the next level, to create our own international financial institution, and we can do it, in our own Pacific Way," said Tonga's Prime Minister ‘Aisake Eke
PM Eke said that they must meet the capitalization target of USD $500 million by the end of 2026 to reach their goal of establishing the facility.
“This Agreement and the Capitalisation Memorandum will be key instruments in driving our advocacy efforts toward that goal. With our shared Pacific values and strong political will, I am confident we can achieve this together—ensuring no one is left behind," he said.
Following the signing ceremony, as host of the PRF – Hon Prime Minister Eke deposited Tonga's instrument of ratification.
For the Treaty to enter into force, at least eight (8) ratification instruments (Tonga plus seven Members) must be deposited with the PIF Secretary General.
PRF's goal is for the Treaty to enter into force is by the end of March 2026, to allow the PRF Council to convene and the first call for project proposals to be launched before the 55th PIF Leaders Meeting in Palau.
Prime Minister Eke extended the sincere appreciation of His Majesty's Government to the Pacific Islands Forum Leaders for entrusting Tonga with the honour of hosting the PRF.
"We are committed to ensuring the PRF delivers effectively on its mandate for the benefit of the Blue Pacific," he said.
