Deputy Prime Minister Professor Biman Prasad expressed to Ajay Banga, the visiting president of the World Bank group, the negative impact that the actions of larger nations have on the health, livelihoods, and security of Pacific Islanders.
Prof Prasad asserted that the World Bank was created to address these issues rather than worsen them, emphasizing that countries in the Pacific have often felt marginalized and neglected by international financial institutions.
During a recent summit in Tonga, Pacific leaders directly conveyed that it is time for meaningful actions rather than mere rhetoric.
He expressed hope that Mr. Banga would strive to address the indifference and exclusion small states experience within decision-making bodies like the World Bank and other international financial institutions.
Prof Prasad stated that his role required him to speak candidly on this matter during Mr. Banga’s inaugural visit to the region, noting that many of his colleagues in finance share his sentiments.
He conveyed the excitement surrounding Mr. Banga’s visit and the hope that it will lead to a greater understanding of the Pacific’s demand for significant reforms to ensure the World Bank plays a vital role in fostering a resilient future for the region.