The Asian Development Bank (ADB) announced yesterday a grant funding of $500 thousand US dollars for Niue to help with the response to the COVID 19 pandemic.
Minister of Finance Crossley Tatui told BCN news that this funding is earmarked for the health sector.
Minister Tatui says that the funding terms allow for some flexibility to recover the costs of health equipment already purchased and the government may use this fund to reimburse for these expenses.
The government is given six months to utilise the funding.
The ADB press release from yesterday announced the total financing of USD$3.18 million comes from ADB’s Asia Pacific Disaster Response Fund (APDRF) with funding from the government of Japan.
The funding is divided between Fiji, Nauru and Niue. Fiji receiving $2 million, $680 thousand for Nauru and Niue receives $500 thousand.
This is the third round of funding for the Pacific island members of the Asian Development Bank this year totalling US$260 million in assistance including co-financing resources and technical assistance.