ADB Launches Frontier Seed (Pacific) Program to Boost Economic Growth
| Summary/Static | Details |
|---|---|
| Why in the news? | ADB Launches "Frontier Seed" to Boost Private Sector Growth and Ocean Impact in the Pacific |
| Objective | Strengthening private sector growth & ocean impact in the Pacific |
| Initial Funding | $4 million ($2M from ADB, $2M from ORCA Trust Fund) |
| Key Beneficiaries | - SeaPAC Pte Ltd (Fiji): Prawn industry development ($200,000) - Kahuto Pacific: Aerial mapping and coastal data enhancement ($200,000) |
| Fiji Government's View | Supports economic resilience, job creation, and self-sufficiency |
| Key Funding Partners | ADB, ORCA Trust Fund, Nordic Development Fund, UK FCDO |
| ADB's Role | Providing risk capital to attract further investment in the region |