Pacific Climate Infrastructure Finance Partnership
The Australian Government is investing in climate infrastructure through the Pacific Climate Infrastructure Financing Partnership to be implemented by the AIFFP.
Recognising that climate change is the single greatest threat to the livelihoods and well-being of our Pacific family, we will prioritise projects through the Partnership that assist countries to respond and adapt to climate change risks and impacts.
The Pacific Climate Infrastructure Financing Partnership will:
- increase support for medium and large-scale, climate-related infrastructure projects that mitigate, adapt, and build resilience to the impacts of climate change
- green existing or future AIFFP investments by integrating climate-smart enhancements.
To ensure consistency with existing regional standards, the Partnership will be aligned with the Framework for Resilient Development in the Pacific. It will also seek to ensure consistency with relevant standards observed by the Coalition for Disaster Resilient Infrastructure. The AIFFP will consult broadly including through the Pacific Regional Infrastructure Facility.
The medium- to large-scale mitigation and adaptation projects will be in addition to AIFFP’s two existing climate focussed projects.
The Partnership will green existing or future AIFFP investments by drawing on up to $50 million of grant funding available from AIFFP’s existing ODA budget. Examples of possible enhancements include solar street lighting, paints and other finishes that lower heat loads, rainwater harvesting supplies, investments in electric vehicle infrastructure, or investments in ports infrastructure to help manage vessel waste.
Guidelines for existing borrowers to access this green grant financing will be available in Q1 2023.
AIFFP’s Climate Change Focus
The Pacific Climate Infrastructure Financing Partnership expands on an already strong climate focus within existing AIFFP investments. From setting airport runway heights to account for sea level rise, additional wharf wave impact protection measures, to energy management systems such as flooding design considerations for climate resilience and including water sensitive drainage design. The Australian Government, through the AIFFP, is committed to quality, climate resilient infrastructure.
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