India-Backed Virgin Coconut Oil Project Launched In Kiribati To Boost Local Economy

(MENAFN- IANS) South Tarawa (Kiribati), Sep 5 (IANS) Marking a significant milestone in the India–Kiribati partnership, the Virgin Coconut Oil (VCO) Project was launched in Tarawa, aimed at boosting coconut resources and creating new economic opportunities for people in the Pacific island nation.

According to the Indian High Commission in Fiji, the project was supported by US$900,000 from the India-UN Development Partnership Fund and implemented by the UNDP.

India's assistance will support VCO processing plants in Nonouti and Teraina islands of Kiribati, alongside training and capacity-building.

"The initiative will transform Kiribati's coconut resources into higher-value products, creating new opportunities for farmers, women's cooperatives and rural communities. India remains committed to strengthening its partnership with Kiribati through South-South cooperation, locally driven development and initiatives that promote livelihoods, economic opportunity and resilience in the Pacific," the Indian High Commission posted on X on Saturday.

The launch was attended by Kiribati's President Taneti Maamau, government leaders, UNDP, industry stakeholders and community representatives, reflecting a shared commitment to sustainable economic development in the Pacific island nation.

Addressing the gathering, Indian High Commissioner Suneet Mehta and Tangariki Reete, Kiribati's Minister for Tourism, Commerce, Industry & Cooperatives, spoke about the significance of the project and its positive impact on the livelihoods of the people in the country.

Indian High Commissioner Mehta said that the project provides an opportunity for more of the economic value generated from coconuts to remain within Kiribati.

"By processing coconuts locally, a greater share of the value generated from this resource will remain within Kiribati. It will create opportunities for farmers and suppliers, small businesses, women and young people, and communities in the outer islands. We believe that solutions work best when they are locally owned, locally managed and designed around local requirements," he noted.

Meanwhile, Tangariki Reete said that the project supports Kiribati's efforts to diversify its economy and strengthen the coconut sector.

"This project is part of translating key government policy documents into actions on the ground that are articulated in the Kiribati 20-Year Vision and the National Development Plan (2024–2027). The project's contribution seeks to build a wealthy, healthy, and peaceful nation. Not only that, but it also facilitates value addition and product diversification," she stated.

She noted that capacity building and viable investment in the coconut industry remained a priority as Kiribati looks to diversify beyond copra and create greater value from the sector.

The initiative contributes to the Kiribati 20-Year Vision and National Development Plan 2024–2027, as well as national priorities to strengthen the coconut sector and expand opportunities for value addition, the UNDP mentioned.

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