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
Press Release No: 04/2012
Date: Tuesday, 27th January 2012
The Government of Japan provides grant assistance in the sum of JPY 100 million (approx. US$1.3 million) to the Government of Tuvalu to continue strengthening implementation of Tuvalu’s development programs in key economic sectors. The funding is sourced from the Government of Japan’s Non Project Grant Aid (NPGA) Program.
The signing and exchange of notes ceremony formalising this assistance will be held at the office of the Embassy of Japan in Suva, Fiji, at 11.00 a.m. 27th January 2012, where Tuvalu’s Deputy Prime Minister, Honourable Kausea Natano, and His Excellency Mr. Yutaka Yoshizawa, the Ambassador of Japan to Tuvalu, will sign and exchange Notes formalising Japan’s commitment towards Tuvalu’s national development programme.
The Government of Tuvalu has been facing financial difficulties recently as a result of high fuel costs and the severe impact of last year’s drought which sternly affects the Tuvalu economy. In view of this serious situation and the close ties that exist between the two nations, Japan decided to provide a grant of JPY 100 million (approx. US$1.3 million) 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. Japan’s cooperation through its NPGA, including this grant will be 7 times with total accumulated grant of approximately 800 million yen to Tuvalu so far.
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.