17 Feb 2014

ADB invests almost 500 million in Pacific transport

7:38 pm on 17 February 2014

The Asian Development Bank is to invest almost 500 million US dollars in transport projects for the Pacific.

The bank says its planned spending on transport projects for 2014 to 2016 is about 484 million dollars, building on an existing portfolio of ongoing projects worth 1 point 8 billion dollars .

A spokesperson says inclusive and sustainable transport development is critical to meeting the development challenges of the Pacific.

He says transport routes from the Pacific to overseas markets are among the world's longest.