Japan Gives US$812,000 Grant To Buy Non-Renewable Fuel
March 10, 2006
The Government of Japan has come to the aid of the tiny nation of Tuvalu by providing US$812,000 to buy non-renewable fuel for the islands power supply, shipping services and fishing vessels.
Japan’s Ambassador to Tuvalu, Mr Masashi Namekawa said the grant will enable the government of Tuvalu to meet 37-percent of the total costs of importing non-renewable fuel.
“This will relieve the pressure Tuvalu is facing in finding funds to deliver the services required by its people,” Mr Namekawa said.
Tuvalu’s Prime Minister, Maatia Toafa in accepting the grant said the grant means a lot given Tuvalu’s vulnerability as a Least Developed Country (LDC) and an isolated nation to price increases in fuel and oil.
“The fact that fuel prices are already high in Tuvalu caused by high freights of transporting it to the capital, Funafuti and then to outer islands means that we face quite a substantial financial burden on our economy of there are increases in the world price of oil,” he said.
“It will significantly enable us able to meet the social obligations of the government in providing electricity at affordable prices to our people, as well as maintaining quality and frequent transportation services to our outer islands using the government’s two inter island vessels,” PM Toafa said
Source: PacNewsService & Pacific Magazine
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