THE Prime Minister’s Office (PMO) is in contact with the Abu Dhabi Fund for development for possible co-financing of the Dala-Atori Road with the Saudi Fund for Development and other development partners.
Prime Minister Jeremiah Manele revealed this to the media last week in response to media criticism over his SBD2.1 million back-to-back trip to Riyadh and Abu Dhabi.
“The Saudi Fund for Development has expressed interest to consider a concessional funding for the Dala-Atori Road in Malaita and the Abu Dhabi Fund for Development is a likely funding partner with the Saudi Fund for Development on this project.
“My Office is making contacts with the Abu Dhabi Fund for Development for possible co-financing of this important project.
“Of course, my office is also seeking other funding options with other development partners, including the People’s Republic of China.”
Another major project which the Prime Minister said the Saudi Fund for Development conveyed strong interest in providing concessional funding for is the Solomon Islands Broadcasting Corporation’s (SIBC’s) 6.5 megawatts solar farm at a price tag of about USD8.5 million.
He said the Saudi Fund for development is ready to commence dialogue and negotiation with SIBC and Solomon Islands Government to progress this project.
“If SIBC wishes to take up this financing opportunity, which is a soft loan, this project will be fully financed and up and running within the next 12 months.”
PM Manele said SIBC having a 6.5 megawatts solar farm will be able to generate itself with much-needed revenue within a short timeframe.
He said in both Saudi Arabia and UAE, he and his delegation also discussed and received very positive response from the Saudi Fund for Development and Abu Dhabi Fund for Development for possible further concessional funding to support major projects such as the Tina Hydro Project, Bina Harbor Fishery Project and other renewable energy and road-related projects.
The PM said for these to progress all these projects, the government must prepare its business case plans and project proposal for review and consideration by these funding institutions.
“There will be follow up discussions on these with relevant line ministries to develop and submit funding proposals for consideration of the Saudi Fund for Development as well as Abu Dhabi Fund for Development.”
By IAN LADDS OSO
Solomon Star, Honiara
