The Asian Development Bank (ADB) and the Government of the Marshall Islands signed agreements for a $7 million grant to support the Marshalls Energy Company (MEC) improve its performance to enhance the disaster resilience of RMI’s energy network and to prepare for a shift to renewables.

The grant provides additional funding for the project, a $12.7 million initiative approved in 2018, to rehabilitate the fuel storage tanks and associated infrastructure on Majuro Atoll to improve the RMI’s energy security.

ADB’s funding is drawn from its Pacific Renewable Energy Investment Facility, which finances renewable energy projects in 11 smaller Pacific island countries. The government has contributed $700,000 to the project.