The Asian Development Bank (ADB) is set to consult on a new phase of its strategic framework for the Pacific, known as the Pacific Approach, later this year. The existing strategy, effective from 2021 to 2025, has prioritized resilience-building in the 14 Pacific Developing Member States (PDMCs), helping them tackle regional challenges and promote inclusive growth.
Scott Morris, ADB’s Vice President for East Asia and South East Asia and the Pacific, provided insights during an interview in Milan, emphasizing a strong commitment to engage with Pacific stakeholders, including bilateral partners, in reshaping this critical strategy. He noted that despite a challenging global environment for donor funding, the ADB has successfully increased its support for Pacific nations significantly, thanks to a robust replenishment of the Asian Development Fund (ADF), which secured USD $5 billion for the 2025–2028 operational period.
Morris also highlighted the establishment of a new resident mission in Solomon Islands and an increase in dedicated staff to enhance regional support. This growth reflects ADB’s differentiated strategy that acknowledges and addresses the unique needs of smaller Pacific economies, enhancing opportunities for local private sector investment and addressing critical areas like health, education, and infrastructure resilience.
At the recently concluded 58th Annual Meeting of the ADB, Pacific leaders articulated their expectations for the upcoming Pacific Approach, stressing the urgency of regional integration and cooperation in the face of global uncertainties. McKinnie Pitakia Dentana, Alternate Governor for Solomon Islands, emphasized the potential benefits of a visa-free Pacific, which could promote free movement of people and investments.
The Pacific nations welcomed ADB’s focus on supporting micro, small, and medium enterprises (MSMEs), which serve as vital components of their economies. Leaders called for increased private sector involvement, especially in sectors like climate resilience, transport, and renewable energy. Safeguarding correspondent banking relationships was also identified as crucial for maintaining economic stability and facilitating international trade.
Morris acknowledged the ongoing challenges of climate resilience and outlined a commitment to supporting infrastructure projects designed to withstand climate shocks. He reaffirmed ADB’s intent to deploy resources effectively while prioritizing high-quality outcomes tailored to the region’s specific needs.
In the context of the broader strategy, Morris expressed optimism about the possibilities ahead, suggesting that increased collaboration and targeted support systems could pave the way for sustainable growth in the Pacific, even amidst ongoing global uncertainties.
This proactive engagement from the ADB represents a hopeful outlook for the Pacific region’s ongoing development and resilience against potential shocks.
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