Cook Islands Announces $50 Million Commitment

The Prime Minister of the Cook Islands, Honourable Mark Brown delivered a press conference on the final day of the 52nd Pacific Island Forum Leaders Meeting 2023, highlighting initiatives and partnerships aimed at fostering prosperity in the Pacific region.

During the press conference the Hon. Mark Brown discussed the launch of the Pacific Partnerships for Prosperity Initiative, a comprehensive strategy outlining critical issues and inviting our international partners to collaborate. The Prime Minister emphasised the importance of clear communication and engagement, urging nations to choose initiatives they resonate with and indicate how they can contribute.

 “This morning’s announcement, firstly by Saudi Arabia for US$50 million to start seeding the Pacific Resilience Facility (PRF), is a tremendous contribution and really sets the tone for the type of engagement that the Pacific is looking for,” said Brown.

The PRF is designed as a Pacific-led, Member-owned and managed community resilience financing facility and has also received commitments from Australia and New Zealand building towards the funding target of US$500m.

This substantial contribution sets an impressive tone for the kind of engagement the Pacific is seeking. As we eagerly await further contributions from our dialog partners and observer members, it is evident that these partnerships are crucial for the region’s continued growth and prosperity.