USD$55m funding of Fanga’uta Bridge to be confirmed [1]
Sunday, September 13, 2020 - 19:26. Updated on Monday, September 14, 2020 - 14:54.
The commitment of the Asian Development Bank to finance the proposed USD$55 million Fanga’uta Lagoon Bridge, will be confirmed next year, according to Mr Masayuki Tachiiri, Pacific Regional Director of the ADB’s Office in Fiji.
He said that by next year the ADB would confirm whether the financing of the Fanga’uta Bridge connecting the capital to central Tongatapu, would be with a grant or a loan.
Mr Masayuki Tachiiri commented during a virtual dialogue with the media held at the ADB’s office located at the National Reserve Bank of Tonga building on Friday, 11 September. Also taking part in the dialogue were Ms. Leah Gutierrez, Director General of ADB’s Pacific Department and the ADB Vice-President Ahmed Saeed.
Largest project
The 720 meters Fanga’uta Lagoon Bridge project is one of Tonga’s largest infrastructure projects to date to be constructed by a Japanese company, according to officials from the Land Transport division of the Ministry of Infrastructure that held a Public consultation on the project in February.
ADB's Vice-President Ahmed Saeed was asked what is the ADB’s stance on current tense economic relations between China, and the USA and Australia and its possible economic impact on the Pacific Region. He said that the ADB is working from a neutral platform with its shareholders to reach a common consensus.
The USA, Australia and China, are among the five largest shareholders of the Asian Development Bank. Tonga is also one of the 68 shareholders of the Asian Development Bank.