During the 2025 International Monetary Fund/World Bank Annual Meetings, Fiji’s Deputy Prime Minister and Finance Minister, Professor Biman Prasad, engaged in constructive talks with Ramesh Subramaniam, the Global Director of the Coalition for Disaster Resilient Infrastructure (CDRI). Their discussions centered on Fiji’s critical role in disaster risk financing and the need to enhance infrastructure resilience across the Pacific islands, coinciding with the launch of the Fiji Disaster Risk Financing Report.
Subramaniam extended an invitation to Fiji, proposing that the nation co-chair the CDRI starting in 2026, recognizing the valuable expertise Fiji brings to disaster risk management. A major focus of the dialogue included plans to establish a CDRI regional office in Suva, which aims to foster enhanced collaboration and support among Pacific nations in tackling the urgent challenges posed by climate change and natural disasters.
Prasad highlighted significant concerns regarding the infrastructure deficits faced by nations in the Pacific, noting that about 20 percent of annual infrastructure investment is lost to disasters. This stark reality serves as a crucial impetus for Fiji’s advocacy for development partners and multilateral organizations to provide concessional loans and grants that would strengthen resilience initiatives.
The recent discussions align with Prasad’s ongoing efforts to promote comprehensive strategies for disaster risk and financing, emphasizing the need for national budgets to incorporate potential disaster-related expenses. This initiative follows Fiji’s notable investment of over $600 million in recovery and rehabilitation efforts over the past seven years, illustrating the severe financial impacts of natural disasters on the country.
Fiji’s proactive vision, supported by robust financial frameworks and collaboration with international partners, ignites hope for a more resilient future across the region. By addressing existing financial gaps and enhancing disaster recovery capabilities, these joint efforts aim to safeguard livelihoods and stimulate sustainable development. The partnership between Fiji and the CDRI marks a significant step toward constructing a durable infrastructure system, equipped to endure the escalating challenges linked to climate change.