The Fiji Business Disaster Resilience Council is voicing strong support for the proposed Pacific Resilience Facility (PRF). During a recent submission to the Standing Committee on Foreign Affairs and Defence, Council Chair Karunesh Rao emphasized the importance of targeted disaster resilience initiatives, particularly for micro, small, and medium enterprises (MSMEs).
Citing that about 80 percent of Fiji’s registered businesses qualify as MSMEs and contribute to around 60 percent of the country’s workforce, the council pointed out a critical issue: while climate finance is accessible globally, it often fails to reach these vital sectors. Edward Bernard, Chief Executive of the Fiji Commerce and Employers Federation, echoed this sentiment, stating that businesses are expected to resume operations swiftly following disasters but lack the necessary support for preemptive measures.
Rao remarked on the significant gaps within current disaster financing models, noting that many global funds fall short of addressing the unique needs of the Pacific region. He described the PRF as a Pacific-owned, grant-based solution that prioritizes preparedness over mere disaster response. This initiative aims to complement existing national systems and enhance scalability.
Furthermore, the council is proactively working on a Private Sector Disaster Resilience Toolkit designed to assist businesses in transforming their resilience strategies into executable plans. With a focus on collaboration, the council expresses readiness to partner with government and regional entities to bolster business resilience and promote economic stability across Fiji.
This initiative not only aims to enhance disaster preparedness but also symbolizes a progressive step towards fostering resilient economic structures that can withstand future challenges. The proactive approach undertaken by the Council and its partners reflects a dedicated commitment to safeguarding Fiji’s economic landscape in the face of climate adversity.
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