Deputy Prime Minister Professor Biman Prasad expressed to World Bank Group President Ajay Banga that the well-being, livelihoods, and security of Pacific Islanders are negatively affected by the actions of larger nations. He emphasized that the World Bank was created to address these issues rather than worsen them.
Prof Prasad noted feelings of exclusion and lack of attention from international financial institutions. He referenced a recent meeting of Pacific leaders in Tonga, urging that the global community must transition from mere words to concrete actions.
He expressed optimism that Mr. Banga would strive to address the indifference and exclusion faced by small states in the decision-making processes of the World Bank and other international financial institutions. Prof Prasad felt it was important to convey these sentiments openly during Mr. Banga’s first visit to the region, stating that many finance ministers would likely share his concerns.
He highlighted the enthusiasm surrounding Mr. Banga’s visit, with hopes that it would lead to a greater understanding of the Pacific’s ongoing demand for substantial changes, allowing the World Bank to play a more significant role in fostering a resilient future for the Pacific region.