The purpose of this Agreement is to establish the Pacific Resilience Facility (PRF). The purposes of the PRF is to:

• (i) assist PRF Members to build systemic resilience to the impact of climate change at the national level by strengthening the collective financial resilience of PRF Members (to receive and make climate and disaster grants for climate adaptation, disaster preparedness, nature-based solutions, and loss and damage projects; to support disaster rapid response; and to receive and make social and community grants for the Sustainable Development Goals and to support resilient and sustainable communities)
• (ii) provide administratively-efficient, cost-effective, community-centred and nationally-contextualised financing that may evolve over time, for resilient development projects in the Pacific region, including (collectively or separately) by, or through, national governments, private sector, civil society and community organisations;
• (iii) strengthen strategic partnerships with key development partners and global climatechange and disaster-risk funding sources to harness collective support for resilient development initiatives in the Pacific region;
• (iv) support capacity building and development in resilient-development planning and budgeting, through strengthening public financial management systems in the Pacific region; and
• (v) serve as a compelling mechanism for climate change and disaster risk investors to contribute capital in support of climate and disaster resilience, and resilient and sustainable communities in the Pacific region.