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TaiwanICDF Signs Loan Agreement Supporting Upgrade of Bonriki International Airport, Kiribati

TaiwanICDF Signs Loan Agreement Supporting Upgrade of Bonriki International Airport, Kiribati

The International Cooperation and Development Fund (TaiwanICDF), represented by Acting Secretary General Dr. Lee Pai-po, and the Republic of Kiribati, one of Taiwan’s partner countries in the Pacific and represented by its ambassador to the Republic of China (Taiwan), H.E. (Ms.) Teekoa Iuta, signed a Loan Agreement today (August 6), formally committing to the Repair and Upgrade of Bonriki International Airport Project in Kiribati. Through the project, the TaiwanICDF will provide a loan of AU$ 20.2 million to finance the cost of resurfacing the runway system at the airport in the nation’s capital, Tarawa. The TaiwanICDF project is related to the Kiribati Aviation Investment Project (KAIP) initiated by the World Bank in 2011.

Kiribati, made up of 32 atoll islands, is a remote and widely dispersed island country. Major improvements to Kiribati’s main airport are deemed to be essential, as air transportation is the key to facilitating the delivery of medical services and labor mobilization, and supporting the country’s development in sectors such as tourism and international trade. However, the infrastructure of Bonriki Airport, and in particular the runway, is insufficient, and conditions are well below international standards. As such, the World Bank has committed a US$ 23 million grant to finance the KAIP, aiming to improve aviation infrastructure such as the terminal building, lighting and safety equipment, as well as supporting reforms to the aviation sector and the strengthening of airport operations and management. The TaiwanICDF loan project will be implemented in parallel to the World Bank grant, under the framework of the KAIP. The proceeds of the loan will be allocated to the rehabilitation of the runway, taxiway and apron area, complimenting the KAIP.

The KAIP is part of a wider World Bank regional intervention, the Pacific Aviation Investment Program (PAIP). The first phase of the PAIP, expected to be completed by the end of 2016, covers Kiribati, Tuvalu and Tonga.

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  • Date:2014/8/6