ADB Launches Frontier Seed Program (Pacific) to Boost Local Industries and Economic Growth.
Banking & Finance
On March 17, 2025, the Philippines-based Asian Development Bank (ADB) introduced the Frontier Seed (Pacific) program to strengthen local capital markets, foster entrepreneurship, and support businesses that drive inclusive and sustainable economic growth in frontier Pacific markets.
- The initiative aims to provide funding and technical assistance to businesses with transformative potential. ADB seeks to de-risk investments, encourage private-sector participation, and help local industries become globally competitive.
- Under the ADB Frontier Seed (Pacific) program, two USD 200,000 cost-recoverable technical assistance agreements have been signed to support key industries in Fiji, marking the program's initial investments.
- The first two recipients of the program are SeaPAC Pte Ltd, a leading saltwater prawn producer in Fiji, which received funding to expand production and enhance food security, and Kahuto Pacific, an aerial mapping company, which will use the funding to develop coastal mapping technologies for climate adaptation and disaster resilience.
Main Point :- (i) The Frontier Seed (Pacific) program, supported by various partners, focuses on agriculture, renewable energy, fisheries, and technology to foster sustainable development and economic resilience in the Pacific region.
(ii) ADB has allocated USD 2 million for the program, with an additional USD 2 million from the Philippines-based Ocean Resilience and Coastal Adaptation (ORCA) Trust Fund.
(iii) The program is supported by key partners, including the Finland-based Nordic Development Fund (NDF) and the United Kingdom’s Foreign, Commonwealth, and Development Office (FCDO).
About ADB
President: Masato Kanda
Headquarters: Mandaluyong, Philippines
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