Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, has urged for greater support from the World Bank to propel Fiji’s national development ambitions and enhance its stature as an economic hub in the Pacific region. During a recent meeting with Felipe Jaramillo, the World Bank Vice President for East Asia and the Pacific, alongside his management team at the 2025 IMF/World Bank Annual Meetings in Washington D.C., Prasad emphasized the critical role of the World Bank in funding essential regional initiatives.
The meeting underscored several key projects, including the Correspondent Banking Relationship Project, Regional Trade Facilitation, and the Health Sector Project. Prasad also expressed his appreciation for the increased allocations from IDA21 for Small Island Developing States, stressing the necessity for better access to concessional financing that is vital for supporting Fiji’s National Development Plan and necessary infrastructure investments.
The discussions further highlighted significant topics such as renewable energy initiatives, job creation, migration policies, and the imperative for more targeted climate financing for small island economies. Prasad reiterated that sustained engagement from the World Bank is essential for fostering resilience and promoting growth throughout the Pacific.
This call for increased collaboration aligns with Prasad’s prior discussions with World Bank officials, including his meetings with Ms. Anna Bjerde, Managing Director of Operations, where the focus was on advancing Fiji’s national agenda through improvements in health services and economic resilience. With a strong emphasis on building climate-resilient infrastructure and bolstering education and health sectors, the efforts signify a hopeful commitment from Fiji to ensure a sustainable and prosperous future.
As international partnerships continue to strengthen, there is optimism surrounding the potential to overcome developmental challenges, foster economic stability, and promote inclusive growth for Fiji and other Pacific island nations.