Deputy Prime Minister Professor Biman Prasad addressed visiting World Bank Group President Ajay Banga, stating that the health, livelihoods, and security of Pacific Islanders are negatively affected by the actions of larger countries. He emphasized that the World Bank was created to rectify such issues, not to worsen them.
Prof. Prasad conveyed feelings of exclusion and indifference toward international financial institutions during his discussion with Mr. Banga. He highlighted that recent meetings among Pacific leaders in Tonga emphasized the need for tangible actions rather than mere rhetoric.
“I hold great hope that you will make efforts to address the exclusion and indifference experienced by small states in the decision-making processes of the World Bank and other international financial institutions,” he said.
He noted that he would not be fulfilling his responsibilities if he didn’t express these concerns during Mr. Banga’s first visit to the region, adding that many of his fellow Finance Ministers likely share his sentiments.
The Deputy Prime Minister indicated there is optimism surrounding Mr. Banga’s visit, with the expectation that it would lead to a deeper understanding of the Pacific’s urgent call for significant reforms, enabling the World Bank to play an essential role in creating a resilient future for the region.