Deputy Prime Minister Professor Biman Prasad expressed to the visiting President of the World Bank Group, Ajay Banga, that the health, livelihoods, and security of Pacific Islanders are negatively affected by the actions of larger nations. He emphasized that the World Bank was created to address these issues, not to worsen them.
Prof. Prasad conveyed feelings of exclusion and indifference towards international financial institutions. He highlighted that during a recent meeting of Pacific leaders in Tonga, there was a clear message that the world must transition from mere platitudes to tangible action.
He expressed hope that Banga would work towards addressing the indifference and exclusion experienced by small states in the World Bank and other international financial institutions’ decision-making processes.
“I would be remiss in my duties if I did not frankly communicate this during your inaugural visit to our region,” he stated, noting that many of his fellow Finance Ministers share his sentiments.
Prof. Prasad remarked on the enthusiasm surrounding Banga’s visit, expressing optimism that it would lead to a greater understanding of the Pacific’s ongoing demand for significant changes, allowing the World Bank to play a vital role in fostering a resilient future for the region.