Prime Minister Sitiveni Rabuka participated in a high-level meeting with Pacific Island Leaders and World Bank Group President Ajay Banga yesterday. The gathering, held at the Pacific Island Forum, highlighted the collaboration between Forum member countries and the World Bank, which is the largest and oldest multilateral development bank based in Washington.
Banga’s visit to Fiji, Tuvalu, and Australia from September 4 to September 10, 2024, marks the first official trip of its kind in the last 50 years. The meeting served as a platform for Pacific leaders to engage directly with the World Bank, gaining insights into the institution’s strategies and approaches.
Discussions focused on key areas such as economic prosperity, climate resilience, and sustainable development, aiming to enhance the livelihood and quality of life for people in the Pacific. The meeting also addressed future financing options through the World Bank’s International Development Association (IDA) and the important 21st replenishment of IDA resources to address the growing needs in the region.
Key initiatives are set to advance through renewed efforts between the Pacific and the World Bank, aligned with the 2050 Strategy for the Blue Pacific Continent and the draft Pacific Roadmap for Economic Development (PRED).
During his speech, Prime Minister Rabuka recognized the World Bank’s significant contributions to infrastructure improvements and its role in Fiji’s development. He emphasized the Bank’s commitment to enhancing cooperation in vital areas such as health, infrastructure, and job creation, not only for Fiji but for overall resilience and prosperity in the Pacific.
Rabuka also expressed enthusiasm for initiatives that could drive economic growth, enhance climate resilience, and improve connectivity, sustainable tourism, investments, and support for crucial sectors, including healthcare, education, energy, agriculture, fisheries, and infrastructure.
He reaffirmed Fiji’s dedication to regional solidarity and expressed hope that collaboration with the World Bank would lead to concrete development outcomes for the Pacific region.
In his remarks, President Banga acknowledged the leadership shown by the Pacific leaders and reiterated the World Bank’s commitment to supporting the region’s priorities, particularly in economic development and climate resilience.
The meeting concluded positively, with a collective agreement to finalize the Outcome Statement and develop a joint action plan addressing critical Pacific priorities linked to implementing the goals of the 2050 Strategy and the draft PRED.
The high-level meeting also saw participation from various leaders, including Hu’akavameiliku Siaosi Sovaleni, Prime Minister of Tonga and Forum Chair; Baron Waqa, Secretary General of the Pacific Islands Forum; Wesley Simina, President of the Federated States of Micronesia; Hilda Heine, President of the Republic of Marshall Islands; Seremaiah Nawalu, Deputy Prime Minister of Vanuatu; and David Adeang, President of the Republic of Nauru. Some leaders participated virtually, while others were represented by missions based in Suva.