With the 29th climate change Conference of the Parties (COP 29) in Azerbaijan coming up in November, Fiji plans to take an assertive approach to ensure climate finance funds are accessible. Deputy Prime Minister and Finance Minister, Professor Biman Prasad, emphasized that while global climate finance issues are comprehensible, they pose significant challenges for small island developing states.
“The commitment made globally regarding the amount has still not been met, and now we are discussing the loss and damage fund,” Prof Prasad said at a post-budget forum in Suva last week. He highlighted that COP29 is focused on climate finance and that Fiji intends to be very aggressive and strategic in gaining access to these funds.
Prof Prasad noted that the Ministry of Environment is keen on securing climate finance. He stated that the ministry would work meticulously to draft strong proposals to obtain climate financing. “We are pressing hard within organizations like the ADB and the World Bank, and we are clear about our country’s inability to depend only on soft loans—they are still borrowings, still loans,” he said.
He added that there is considerable potential if the process is handled correctly. “If we act together, we can access a lot of grant financing, especially for infrastructure,” Prasad stated. He pointed to the increasing extremity and frequency of weather patterns, rising temperatures, and their impact on agriculture, infrastructure, and housing. “There is a strong case for countries like Fiji and those in the Pacific to access grant financing, and we are working on that,” he said.