$73m to upgrade maritime infrastructure
AN investment of $US33 million ($F73m) is being made to upgrade maritime infrastructure in the Marshall Islands.
The country’s president, Hilda Heine, said significant planning was in progress for the Maritime Investment Project, which will be officially launched next month.
Upgrades would include the repair of quays, wharves and other structures, Dr Heine said.
The project would also usher in improved safety of port operations at main centres and outer island docks and strengthen maritime transport across the country, she said.
Under the funding package, $US12.35m ($F27.18m) is to be invested into maritime infrastructure and $US7.65m ($16.84m) in maritime safety and security.
Additionally, $US13.12m ($28.88m) has been allocated for technical assistance for port planning and project management.
Dr Heine said the project would also improve the reliability of connections between the capital Majuro and outer island communities.
“The project will also help build resilience to climate change, which is a significant threat to maritime operations, with sea-level rise accelerating the rate of coastal erosion and the deterioration of key port infrastructure,” she said.
The project, funded through the World Bank’s International Development Association, is being implemented by the Marshalls’ Ports Authority, its ministries of Transportation and Communications, Finance, Justice, and the National Disaster Management Office.
The Marshall’s Minister for Finance, Banking and Postal Services, Brenson Wase, said work on the project began in May and was expected to continue until August 2024.