Bilateral Relations » Japan's Economic Cooperation between Japan and Tuvalu » Past Assistance Projects to Tuvalu» Non-Project Grant Aid » Press Release
Japan Provides Grant Assistance to Tuvalu
Embargo: Thursday, 12th March 2009, 10.00 a.m.
The Government of Japan provides grant assistance in the sum of JPY 200 million (approx. AUS$3,225,000.00) to the Government of Tuvalu to strengthen structural reform efforts in key economic sectors. The funding was sourced from the Government of Japan’s Non Project Grant Aid (NPGA) Program.
The exchange of notes ceremony formalising this assistance was held in Suva, at 10.00 a.m. on 12th March 2009, where Tuvalu’s Prime Minister, Honourable Apisai Ielemia, and His Excellency Mr. Yutaka Yoshizawa, the Ambassador of Japan to Tuvalu, signed and exchanged notes formalising Japan’s commitment towards Tuvalu’s economic reform programme.
The Government of Tuvalu has been facing financial difficulties recently in implementing necessary planned economic and structural reform programs in key economic sectors to improve the welfare of the people of Tuvalu. In addition, the high fuel costs in the past have also affected the island nation. In view of this serious situation and the close ties that exist between the two nations, Japan decided to provide a grant of JPY 200 million (approx. AUS$3,225,000.00) to ensure that Tuvalu moves ahead promptly with the planned structural reform programmes for rapid development, particularly, by reducing the financial burden of purchasing necessary products, such as increasing cost of fuel imports for promoting economic structural adjustment efforts.
This NPGA is an added milestone in Japan’s ongoing support and cooperation towards the development and prosperity of Pacific Island Countries including Tuvalu and Japan is confident that the friendly ties between the Governments and the people of Japan and Tuvalu will continue to strengthen.
Bilateral Relations » Japan's Economic Cooperation between Japan and Tuvalu » Past Assistance Projects to Tuvalu» Non-Project Grant Aid