Pacific Region – Higher Education Investment Program

11 June 2012 - The Asian Development Bank (ADB) has approved the following multitranche financing facility for the Higher Education in the Pacific Investment Program:

Description:

The funding will help the University of the South Pacific expand access to higher education in its 12 Pacific Island member countries with improved regional campuses, ICT-based distance learning programs, student services, and management. The investment program aims to boost skills development, which in turn will promote more inclusive growth in the region. It is the ADB's first regional investment support in the education sector and the first direct ADF loan to a regional university.

Amount: An MFF in the amount of up to $19 million equivalent from ADB’s concessional Asian Development Fund. Its first tranche of $2.6 million equivalent will be guaranteed by the Government of Kiribati. Guarantees for subsequent tranches will be arranged.

Project ID: 42291-024

For more information: http://www.adb.org/projects/42291-024/main