2026.07.27
On July 24, the Japan International Cooperation Agency (JICA) signed a loan agreement with the Government of Solomon Islands in Tokyo, to provide Japanese ODA loan for the Project for Development Policy Loan for Strengthening Fiscal and Economic Resilience. In the presence of Prime Minister Matthew Cooper Wale of the Solomon Islands, the signatures were exchanged between Minister for Foreign Affairs and External Trade Ricky Nelson Houenipwela and JICA President Tanaka Akihiko.
Signing ceremony
The project outline is explained below.
- Country
(Target Areas)
Solomon Islands
- Project Objective
The objective of the Program is to strengthen fiscal and economic resilience through promoting domestic resource mobilization, strengthening public financial management and fiscal policy, promoting good governance, and encouraging economic growth, thereby contributing to promote the economic stabilisation and development efforts of Solomon Islands.
- Project Component
The Program will support policy reforms in Solomon Islands through budget support, focusing on domestic resource mobilization, public financial management and fiscal policy, good governance, and economic growth.
- Maximum Loan Amount
3,000 million Yen (Estimated Project Cost: 6,000 million Yen)
- Annual
Interest Rate
Project: 2.35%
- Repayment Period
30 Years
- Grace Period
10 Years
- Procurement
Untied
- Executing Agency
Ministry of Finance and Treasury of Solomon Islands
- Contribution to SDGs
Goal 8 (Decent Work and Economic Growth)
Goal 9 (Industry, Innovation and Infrastructure)
Goal 10 (Reduced Inequalities)
Goal 13 (Climate Action)
Goal 16 (Peace, Justice and Strong Institutions)
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Planned Implementation Schedule
1. Completion of the Program: November 2026, when the loan is executed.
2. Issuing of letters of invitation for consulting services (including detailed design work): No hiring of consultants is planned for this program.
3. Tendering of announcement of initial procurement package for international competitive bidding on project construction: No work in conjunction with bidding is planned for this program.
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