Taiwan pledges US$3 million to Pacific Resilience Facility

Taipei, Sept. 16 (CNA) Taiwan has pledged US$3 million to the Pacific Resilience Facility (PRF), a regional climate and disaster fund, despite not being invited to last week's Pacific Islands Forum (PIF) Leaders Meeting, a diplomat said Tuesday.

Michael Lin (林昭宏), head of the Ministry of Foreign Affairs (MOFA) Department of East Asian and Pacific Affairs, said Tuvalu announced the donation on Taiwan's behalf during the Sept. 8 to 12 meeting in the Solomon Islands.

Lin said that the contribution, to be paid over three years, demonstrates Taiwan's determination to cooperate with the PIF and like-minded countries in the region to promote prosperity and sustainable development.

The PRF, launched at the 54th PIF meeting in Honiara, aims to help Pacific communities overcome barriers to global financing. Solomon Islands Prime Minister and PIF chair Jeremiah Manele hailed it as a game-changer and emphasized the importance of Pacific-led solutions.

The facility seeks to raise US$500 million in initial capital, with a long-term goal of US$1.5 billion. Other pledges include US$64 million from Australia, US$25 million from the United States and US$3 million from Japan, Lin said.

Taiwan has been a PIF partner country since 1993 and has contributed to the bloc in the past.

This year's forum, however, was restricted to the forum's 18 member states, after the Solomon Islands barred partner countries, including Taiwan, the U.S. and China, from attending.