The ADB Board of Directors approved USD 11 million for the Interisland Shipping Support Project to help the upgrading of Vanuatu port facilities and to expand shipping services Radio New Zealand International reports.
Vanuatu is an island nation located in the South Pacific Ocean. The archipelago, which is of volcanic origin, is some 1,750 kilometers east of northern Australia.
The approved loan will finance construction of the Port Vila terminal with the upgraded berthing facilities and jetties, and developing of new, so far unviable routes.
The Support Project aims to help isolated rural communities in development and promoting new economic opportunities.
“The project will benefit many poor, rural communities allowing easier market access for their products” says ADB’s Pacific Department Director General Robert Wihtol.
[mappress] World Maritime News Staff, December 7, 2011