Deputy Prime Minister and Finance Minister of Fiji, Professor Biman Prasad, recently met with Ramesh Subramaniam, the Global Director of the Coalition for Disaster Resilient Infrastructure (CDRI), during the 2025 International Monetary Fund/World Bank Annual Meetings. Their discussions revolved around Fiji’s pivotal role in disaster risk financing and enhancing infrastructure resilience throughout the Pacific region, alongside the unveiling of the newly launched Fiji Disaster Risk Financing Report.
Subramaniam extended an invitation for Fiji to consider co-chairing the CDRI starting in 2026, highlighting the importance of Fiji’s expertise in managing disaster risks. Plans are being discussed to establish a CDRI regional office in Suva, which would facilitate greater collaboration and support for Pacific nations in addressing the pressing challenges of climate change and natural disasters.
During the meeting, Prasad expressed concerns about the substantial infrastructure deficit faced by Pacific nations, noting that approximately 20 percent of annual infrastructure spending is lost to disasters. This dire reality underscores Fiji’s push for development partners and multilateral organizations to provide concessional loans and grant resources to bolster resilience efforts.
This recent dialogue is consistent with previous meetings where Prasad advocated for comprehensive approaches to disaster risk and financing, underscoring the significance of aligning national budgets with potential disaster-related expenses. The initiative comes in the wake of Fiji’s substantial investment—over $600 million in recovery and rehabilitation efforts over the last seven years—highlighting the financial toll natural disasters impose on the nation.
With Fiji’s forward-looking vision, reinforced by comprehensive financial frameworks and proactive engagement with international partners, there is a renewed sense of hope for a more resilient future throughout the region. The collective efforts aim not only to close existing financial gaps but also to enhance the overall ability to recover from disasters swiftly and effectively, ultimately protecting livelihoods and fostering sustainable development. The collaborative approach between Fiji and global entities like the CDRI represents a promising step towards building a secure and resilient infrastructure system capable of withstanding the compounding effects of climate-related challenges.