Professor Biman Prasad, the Minister of Finance, is set to push for enhanced and more accessible climate financing options for Pacific island nations during the upcoming COP29 conference. He will lead Fiji’s delegation at the 29th Conference of the Parties in November.
Speaking at a media gathering in Suva, Prof Prasad highlighted that the critical focus areas for this year’s conference will include climate financing and the loss and damage fund. He stated, “The Ministry of Climate Change, under the leadership of PS Sivendra Michael, is actively preparing for COP29. We aim to be thoroughly equipped.”
He noted that a technical working group, comprising various ministries, is already engaged in preparations. Prof Prasad mentioned that the final structure of the delegation would be decided in due time, emphasizing the significance of Fiji’s position on the accessibility and management of the loss and damage fund.
In a recent successful meeting with the president of the World Bank, he expressed optimism that the institution would function as the financial intermediary for the implementation of the loss and damage fund, ensuring that countries like those in the Pacific gain access to necessary financial resources.
He remarked, “It is crucial that Pacific island nations, including Fiji, have a clearer and more accessible system for obtaining the funds they require.” Prof Prasad concluded that COP29 is anticipated to cover issues related to climate financing and support for vulnerable countries, with Fiji aiming to serve as a prominent advocate for improved financial frameworks for the Pacific region.