The Asian Development Bank and the University of the South Pacific have signed loan and grant agreements to fund the building of a new campus in Honiara.
The Solomon Islands Government is guaranteeing the $US15.4 million loan.
The loan, along with a small ADB grant from the Clean Energy Fund, will pay for the new campus on the King George VI School grounds, which are about 4 kilometres east of the existing Honiara campus.
The campus will provide additional classrooms, an ICT studio, science laboratories, faculty and administrative facilities with a solar-powered system that will provide 75% of campus energy needs.
The loan is the last part of $US19 million in ADB loans to help the USP improve its facilities and teaching.
The first tranche, of $US3.6 million, paid for a new ICT-equipped campus in Kiribati.