Deputy Prime Minister Professor Biman Prasad expressed to World Bank Group President Ajay Banga that the actions of larger nations have negatively affected the health, livelihoods, and security of Pacific Islanders. He emphasized that the World Bank was created to address these issues rather than make them worse.
Prasad conveyed a sense of exclusion and indifference felt by smaller countries towards international financial institutions. He highlighted that recent discussions among Pacific leaders in Tonga stressed the need for tangible action instead of mere words.
He expressed hope that Banga would work towards alleviating the exclusion and indifference small states face in the World Bank’s decision-making processes.
Prasad affirmed that many of his fellow finance ministers share his concerns. He noted the enthusiasm surrounding Banga’s visit and the expectation that it would lead to a better understanding of the Pacific’s demand for fundamental changes, ultimately aiding the World Bank’s role in fostering a resilient future for the region.