» Japan Provides Grant Assistance to Tuvalu
Embargo: Friday, 10th March 2006, 10:00 a.m.
The Government of Tuvalu will receive a grant assistance in the sum of JPY100 million (US$811,534.62) from the Government of Japan. The funding will be sourced from Japan’s Non - Project Grant Aid (NPGA).
A ceremony will be held at the Embassy of Japan, Level 2 Dominion House, Thomson Street, Suva, Fiji Islands at 10:00 a.m., on 10th March 2006 where Honourable Maatia Toafa, the Prime Minister of Tuvalu and H.E. Mr. Masashi Namekawa, the Ambassador of Japan will sign and exchange notes to formalise Japan’s commitment towards the assistance.
The Government of Tuvalu in recent times have been facing difficulties in acquiring non renewable fuel to ensure stable power supply, shipping services and fishing vessel services to its people. The rising fuel costs have also affected the island nation. In view of this serious situation and the close ties that exist between the two nations, the Government of Japan decided to assist Tuvalu in procuring the much needed non renewable fuel.
It is anticipated that this grant will enable the Government of Tuvalu to meet 37% of the total costs of importing non renewable fuel and, as such, will relieve the pressure Tuvalu is facing in finding funds to deliver the services required by its people. As a result, the Government of Tuvalu will be able to ensure reliable and stable power supply, consistent inter - island vessel services and operation of fishing vessel for its economy and the people.
This NPGA is an added milestone in Japan’s ongoing support and cooperation towards development and prosperity of Tuvalu and it is anticipated that the friendly ties between the Government and People of Tuvalu and Japan will further strengthen.