Deputy Prime Minister Professor Biman Prasad expressed to visiting World Bank Group President Ajay Banga that the wellbeing, livelihoods, and security of Pacific Islanders have been adversely affected by the actions of larger nations.
He emphasized that the World Bank was created to address these issues, not to worsen them. Prasad remarked that Pacific nations have often felt marginalized and indifferent to international financial institutions’ activities.
During recent discussions among Pacific leaders in Tonga, the need for genuine action beyond mere words was highlighted. He expressed hope that Banga would make efforts to rectify the indifference and exclusion that small states experience in decision-making processes within the World Bank and other international financial institutions.
“I would be remiss if I did not express this candidly during your first visit to our region,” Prasad stated, confident that other Finance Ministers would share his sentiments.
There is a sense of optimism surrounding Banga’s visit, with expectations that he will gain a clearer understanding of the Pacific’s ongoing calls for significant changes, ensuring that the World Bank plays a vital role in fostering a resilient future for the region.