The Tina Hydro Project has cleared a massive hurdle, with the Solomon Islands Government confirming it has banked cornerstone finance worth $US86 million ($670 million) from the Green Climate Fund.
The Deputy Prime Minister Manasseh Maelanga announced the funding over the weekend, with formal approval granted at the 16th meeting of the GCF Board in South Korea.
Mr Maelanga said with the GCF funding now approved, a total of $101 million USD was now formally secured by the SIG for the project in the form of both grants and concessional loans, with a minimum of $65 million in additional funding, which has also gained preliminary approval and though subject to pre-conditions, progressively made available over the coming months from various financial institutions.
