At the Small States Forum in Washington DC, discussions focused on streamlining project appraisals and improving local capacities. Fiji’s Minister for Finance and Deputy Prime Minister Biman Prasad emphasized Fiji’s progress in climate action, underlining the need for adaptation financing through the replenishment of the International Development Associations (IDA) 21.
Minister Prasad pointed out that regional cooperation could yield successful partnerships, as evidenced by the regional correspondent banking initiative. He believes that by pooling resources and expertise, the region can promote sustainable development and bolster resilience to climate-related challenges.
World Bank President Ajay Banga, who opened the event, stressed the importance of streamlining project appraisals, enhancing local capabilities, and building partnerships to assist vulnerable regions. Banga drew from his recent visits to Fiji and Tuvalu, stating that collaboration among governments, development banks, and the private sector is essential for developing effective and sustainable solutions.
During his time in the United States, Prasad also met with Robert Kaproth, the US Department of Treasury Deputy Assistant Secretary for Asia, and participated in the 55th Joint South East Asia Voting Group (SEAVG) Governors Meeting.
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