Prime Minister Sitiveni Rabuka participated in a High-level Meeting with World Bank Group President Ajay Banga alongside Pacific Island Leaders yesterday. The meeting, held at the Pacific Island Forum, highlighted the collaboration between the member countries and the World Bank, recognized as the oldest and largest multilateral development bank globally.
Banga’s visit to Fiji, Tuvalu, and Australia from September 4 to 10, 2024, marks the first such visit in 50 years. This meeting provided an opportunity for Pacific leaders to engage directly with the World Bank, gaining insights into its strategies and approaches.
During the session, the leaders focused on priorities such as economic prosperity, climate resilience, and sustainable development, aiming to enhance the livelihoods and quality of life for people in the Pacific. Attention was also given to future financing from the World Bank’s International Development Association (IDA) and the robust replenishment of IDA resources to address the growing needs of the Pacific region.
The discussions referenced significant regional initiatives, including the 2050 Strategy for the Blue Pacific Continent and a draft Pacific Roadmap for Economic Development (PRED). Prime Minister Rabuka recognized the World Bank’s contributions to infrastructure improvements and its role in Fiji’s development journey.
He emphasized the renewed commitment from the World Bank to cooperate on critical issues such as health, infrastructure, and job creation, which are central to Fiji’s development priorities and the Pacific’s overall resilience. Rabuka welcomed potential initiatives to foster economic growth, climate resilience, connectivity, sustainable tourism, investment, and critical sectors, including healthcare, education, energy, agriculture, fisheries, and infrastructure.
Rabuka reaffirmed Fiji’s commitment to regional solidarity and expressed optimism that the partnership with the World Bank would yield substantial results for the Pacific’s development. In his remarks, President Banga acknowledged the leadership shown by Pacific leaders and reiterated the World Bank’s commitment to supporting the region’s economic and climate resilience priorities.
The meeting concluded positively with a collective pledge to develop an Outcome Statement and a joint action plan focused on implementing the targets of the 2050 Strategy and the draft PRED. The meeting was attended by several other leaders, including Hu’akavameiliku Siaosi Sovaleni, the Prime Minister of Tonga; 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, with additional leaders participating virtually.