5 Dec 2011

Vanuatu receives loan from ADB for shipping service upgrade

11:21 am on 5 December 2011

The Asian Development Bank is helping Vanuatu to upgrade its port facilities and expand shipping services to remote islands.

The ADB Board of Directors has approved an almost 11 million US dollar loan for the Interisland Shipping Support Project.

The loan will finance a new interisland shipping terminal in Port Vila, with improved berthing facilities, new and upgraded jetties on outer islands, and a scheme to help develop services on routes that have so far been commercially unviable.

The project is aimed at supporting national development and promoting new economic opportunities for isolated rural communities.

The Director General of the ADB's Pacific Department Robert Wihtol says the project will benefit many poor, rural communities allowing easier market access for their produce.