The Pacific Islands Forum (PIF) and the Asian Development Bank (ADB) have formalized their collaboration by signing a key agreement intended to enhance their joint efforts on vital regional priorities. This agreement establishes a strategic framework that aligns with mutual commitments for addressing economic resilience, climate and disaster preparedness, social inclusion, and sustainable growth throughout the Blue Pacific region.
The signing ceremony took place in Suva, where Forum Secretary General Baron Divavesi Waqa and ADB President Masato Kanda were present. Waqa emphasized the longstanding and robust relationship between the ADB and the Blue Pacific region, highlighting that the Partnership Agreement marks a significant commitment to delivering Pacific-led solutions that enhance resilience, connectivity, and opportunities while mobilizing climate and development finance as outlined in the 2050 Strategy for the Blue Pacific Continent.
Under this partnership, PIF and ADB plan to boost collaboration on various fronts including trade and economic competitiveness, management of public finances, and fiscal resilience. Investment harmonization and regional trade policy are also focal points, alongside efforts aimed at supporting the private sector and the development of micro, small, and medium-sized enterprises (MSMEs). Furthermore, the agreement addresses diversification in key sectors such as agriculture, fisheries, tourism, and the broader blue economy.
Additional areas of focus include enhancing correspondent banking relationships and regional financial systems, advancing financial literacy and inclusion, strengthening social protection, boosting community resilience, and improving strategies for climate finance and disaster risk financing.
Kanda remarked on the immense benefits that regional cooperation and integration offer to the geographically dispersed nations of the Pacific. He underlined the importance of unity in the region, stating that collective action can lead to more effective outcomes in achieving shared goals, particularly in conserving ocean resources and bolstering economic resilience.
This agreement reflects a shared vision for a peaceful, secure, inclusive, and prosperous Pacific region, ensuring that all Pacific peoples have the opportunity to lead healthy, free, and productive lives. The collaboration between PIF and ADB promises to bring about positive advancements in the Pacific’s socio-economic landscape, underscoring a hopeful outlook for the future.
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