by Gina Maka’a

A new regional financing agreement, known as the Pacific Resilience Facility (PRF), will be signed in Honiara during the Forum Leaders’ Summit in September.

Prime Minister Jeremiah Manele disclosed this to reporters on arrival today from Fiji where he attended the Troika meeting.

Manele explained that in March this year, the Forum Economic Ministerial Meeting in Tonga took important steps to establish the PRF by creating a treaty that gives it legal status.

“The Pacific Resilience Facility is designed by the Pacific for the Pacific to address regional climate and natural disaster challenges,” he said.

“It is owned, led, and driven by the region,” the prime minister added.

In-depth Solomons understand the PRF aims to build community preparedness and resilience against climate change impacts and frequent disasters, offering a unique niche of providing upfront grants for community-level projects without increasing national debt burdens. 

Furthermore, it seeks to bridge the gap between humanitarian assistance and development efforts, directly supporting Pacific communities in building resilience and preparedness. 

Prime Minister Manele said the goal of the Pacific Resilience Facility is to raise USD$ 500 million by 2026 and and a further USD 1.5 billion by 2030.

He emphasized that the Troika (a mechanism set up by Forum leaders to discuss key issues that impact our Blue Pacific region) is encouraged to advocate for and promote the funding of the facility ahead of the 54th Pacific Islands Forum Leaders’ Meeting in Honiara this year and in Palau in 2026.

Manele noted that several countries have already pledged support for the PRF, stating that eight signatures are required for the treaty to take effect.

“Once the agreement is signed, its organization and governance will be established, and an account will be opened to receive the pledged funds.”

The Troika consists of the current Chair of the Pacific Islands Forum (PIF), Tonga, the immediate past Chair, the Cook Islands, and the incoming Chair, the Solomon Islands. 

This group plays a vital role in guiding the Forum’s political direction and decision-making between annual Leaders’ Meetings.

During the Troika meeting, leaders also discussed several important regional issues, including:

• Recommendations from a high-level PIF delegation that visited New Caledonia in 2023
• The ongoing review of the Forum’s regional structure
• The quarterly report from the Forum Secretariat Secretary-General
• The implications of recent U.S. policy decisions on Pacific Island Countries (PICs), particularly regarding climate change, health, and trade tariffs.

Meanwhile, Manele assured the Troika Meeting in Fiji that Solomon Islands is on track to host the 54th Pacific Islands Forum Leaders Meeting in Honiara this year.

He revealed that the Cabinet has approved the formation of a National Organizing Committee to manage the overall planning of the event. 

“We have established 12 subcommittees to focus on different important areas during our preparations,” he said.

Manele emphasized that they are working closely with the Forum Secretariat to ensure that the planning meets the Forum’s expectations. 

“We hope to have the Cabinet approve the theme for the Leaders’ meeting by the end of this month [April],” he added.

He also announced that invitation letters to the Leaders will be sent out by the end of April, but no later than mid-May.