Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, has called for enhanced support from the World Bank to accelerate Fiji’s national development goals and establish its position as a leading economic hub in the Pacific. This appeal came during a meeting with Felipe Jaramillo, the World Bank Vice President for East Asia and the Pacific, at the 2025 IMF/World Bank Annual Meetings in Washington D.C.
Prasad highlighted the essential role of the World Bank in financing key regional initiatives. The discussions outlined several significant projects, including the Correspondent Banking Relationship Project, Regional Trade Facilitation, and the Health Sector Project. He expressed his gratitude for the increased assistance from IDA21, aimed specifically at Small Island Developing States, while emphasizing the importance of improved access to concessional financing which is crucial for implementing Fiji’s National Development Plan and key infrastructure developments.
The conversation also touched on vital areas such as renewable energy projects, job creation strategies, migration policies, and the critical need for targeted climate financing for small island economies. Prasad asserted that ongoing collaboration with the World Bank is vital for building resilience and stimulating growth across the Pacific.
This request for intensified partnership reinforces previous engagements Prasad has had with World Bank officials, including discussions with Managing Director of Operations, Ms. Anna Bjerde, focusing on enhancing Fiji’s health services and economic resilience. The emphasis on constructing climate-resilient infrastructure along with strengthening education and healthcare systems reflects Fiji’s commitment to pursuing a sustainable and prosperous future.
With growing international partnerships, there is a sense of optimism about addressing developmental hurdles, fostering economic stability, and encouraging inclusive growth not only for Fiji but also for other Pacific island nations. These collaborative efforts signal a promising pathway toward achieving long-term sustainability and development in the region.