Australia Adds Another $550 Million to Pacific Climate Fund Australia has announced an additional $550 million (US$380 million) to support its Pacific neighbours in building climate resilience. This funding will be channeled through the Australian Infrastructure Financing Facility for the Pacific (AIFFP), which collaborates with private companies on infrastructure projects such as energy, water, transport, and telecommunications. The Asian Development Bank estimates that the Pacific region requires over $43 billion in infrastructure investment by 2030.

• Australia is providing an extra $550 million (US$380 million) to Pacific neighbours.
• The funds aim to bolster resilience to a changing climate.
• The money will go to the Australian Infrastructure Financing Facility for the Pacific (AIFFP).
• AIFFP partners with private enterprise for grant and loan financing.
• Initiatives include energy, water, transport, and telecommunications infrastructure.
• Previous AIFFP investments include renewable energy for Timor-Leste’s coffee growers, submarine cables to Tonga and Palau, and Nauru’s airport upgrade.
• The Asian Development Bank estimates $43 billion in infrastructure investment is needed in the Pacific by 2030.