Prime Minister Sitiveni Rabuka participated in a High-level Meeting with Pacific Island Leaders and World Bank Group President Ajay Banga yesterday. This meeting, held during the Pacific Island Forum, highlighted the partnership between the Forum member countries and the World Bank, which is the oldest and largest multilateral development bank based in Washington.
Banga’s upcoming visit to Fiji, Tuvalu, and Australia from September 4 to 10, 2024, marks the first such trip by a World Bank President in 50 years. This meeting provided an opportunity for Pacific leaders to collaborate directly with the World Bank and gain insights into the institution’s strategies and approaches.
During the discussions, leaders addressed priorities such as economic prosperity, climate resilience, and sustainable development, focusing on improving the quality of life for Pacific communities. They also emphasized future financing from the World Bank’s International Development Association (IDA) and the robust replenishment efforts of IDA21 to meet the Pacific’s increasing needs.
These discussions were based on significant regional initiatives such as the 2050 Strategy for the Blue Pacific Continent and the draft Pacific Roadmap for Economic Development (PRED). In his address, Prime Minister Rabuka recognized the World Bank’s contributions to infrastructure development and acknowledged its role in Fiji’s growth journey.
Rabuka further pointed out the World Bank’s renewed commitment to collaborate on crucial areas including health, infrastructure, and job creation to enhance overall resilience and prosperity in the Pacific region. He expressed his optimism that this partnership would lead to concrete outcomes, promoting economic development, climate resilience, and support for vital sectors like healthcare, education, and energy.
World Bank President Banga expressed gratitude for the leadership shown by the Pacific leaders and reaffirmed the Bank’s commitment to supporting economic development and climate resilience in the region. The meeting ended with a unified commitment to develop an Outcome Statement and a joint action plan addressing key Pacific priorities as they implement the 2050 Strategy and the draft Pacific Roadmap for Economic Development.
The High-level Meeting was attended by notable 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. Other leaders participated virtually, and additional representatives joined from their missions in Suva.