Deputy Prime Minister Professor Biman Prasad expressed to visiting World Bank Group President Ajay Banga that the well-being and security of Pacific Islanders have been negatively affected by the actions of larger nations.
Professor Prasad emphasized that the World Bank was created to address these issues, not to worsen them. He conveyed a sense of exclusion and indifference felt by Pacific nations towards international financial institutions.
During a recent meeting of Pacific leaders in Tonga, he pointed out the necessity of transforming rhetoric into tangible action. He expressed optimism that Banga would recognize and act on the feelings of exclusion and indifference experienced by small states in decision-making forums at the World Bank and other international financial institutions.
He asserted that he would not fulfill his responsibilities if he did not voice these concerns during Banga’s inaugural visit to the region. Prasad is confident that other finance ministers share his sentiments.
Prasad highlighted the excitement surrounding Banga’s visit and hoped that it would lead to a deeper understanding of the Pacific’s urgent calls for significant changes, enabling the World Bank to play a more central role in fostering a resilient future for the Pacific.