EU, PIFS support investment in the Pacific

The agreement between European Union (EU) and Pacific Island Forum (PIFS) will help generate sustainable economic activities to create sustainable jobs in the Pacific region.

These were the comments made by the European Union director-general for international cooperation and development Stefano Manservisi.

He said this at the EU and PIFS joint press conference at the Grand Pacific Hotel in Suva yesterday.

He said: “We sign another act of this partnership which is concretely translating this into facilitating investment in the region.

“The EU contribution in the form of investment grants, technical assistance, guarantees the facility will help unlock investment capital that would otherwise not be available.”

Mr Manservisi said EU supported investment through blending, making investment cheaper through business environment reform already underlined by the leaders of the region.

Secretary General of PIFS Dame Meg Taylor thanked the EU for the support and innovation in supporting the private sector.

“This agreement signing shows the importance of supporting investments to sustainable development for the regional economic integration and sustainable management of natural resources,” Ms Taylor said.

The agreement signed is worth F$44 million and is funded through the 11th European Development Fund.

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