Prime Minister Sitiveni Rabuka participated in a high-level meeting yesterday alongside Pacific Island Leaders and World Bank Group President Ajay Banga. This meeting, held at the Pacific Island Forum, emphasized the collaboration between member countries and the World Bank, which is recognized as the largest and oldest multilateral development bank in the world.
Banga’s official visit to Fiji, Tuvalu, and Australia from September 4 to 10, 2024, marks a significant event, being the first of its kind in 50 years. This gathering offered Pacific leaders the chance to engage directly with the World Bank while gaining insight into the institution’s approaches and strategies.
During the meeting, participants focused on key priorities such as economic prosperity, climate resilience, and sustainable development with the overarching goal of enhancing the quality of life for people across the Pacific. Discussion also centered on the future financing from the World Bank’s International Development Association (IDA) in the region, along with the robust replenishment of resources aimed at addressing the growing needs in the Pacific.
These discussions are part of a broader initiative to strengthen the partnership between the Pacific and the World Bank. Key topics included the 2050 Strategy for the Blue Pacific Continent and the draft Pacific Roadmap for Economic Development.
In his address, Prime Minister Rabuka acknowledged the World Bank’s contributions to infrastructure and its supportive role in Fiji’s development journey. He emphasized the renewed commitment from the World Bank in crucial areas such as health, infrastructure, and job creation, which align with Fiji’s development priorities and the wider Pacific region’s resilience and prosperity.
Rabuka expressed enthusiasm for initiatives that would foster economic growth, climate resilience, enhanced connectivity, sustainable tourism, investment, and support for essential sectors including healthcare, education, energy, agriculture, fisheries, and infrastructure. He reaffirmed Fiji’s dedication to regional solidarity and conveyed optimism that the partnership with the World Bank would lead to meaningful outcomes for the development of the Pacific.
In his remarks, President Banga appreciated the leadership of Pacific leaders and reiterated the World Bank’s commitment to supporting the region’s economic development and climate resilience priorities. The meeting concluded positively, with a collective agreement to collaborate on an Outcome Statement and a joint action plan targeting key Pacific priorities to implement the 2050 Strategy and the draft Pacific Roadmap for Economic Development.
The high-level meeting was attended by several 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; and Hilda Heine, President of the Republic of Marshall Islands, among others. Some leaders participated virtually, and certain member states were represented by their missions based in Suva.