Deputy Prime Minister and Minister for Finance Hon. Biman Prasad met with Mr. Felipe Jaramillo, the World Bank Vice President for the East Asia and Pacific (EAP) Region and his management team on the margins of the 2025 IMF/World Bank Annual Meetings in Washington D.C.
DPM Prasad highlighted the significance of the World Bank as a partner for Fiji and the Pacific, funding key projects like the Correspondent Banking Relationship project, Regional Trade Facilitation and the Health Sector Project. These projects are regional initiatives, with Fiji serving as a hub for economic activities in the Pacific.
He thanked the Bank management for the increase in IDA21 allocation for SIDS including Fiji and the importance of accessing IDA financing and concessional resources is emphasized, with a call for increased funding to support Fiji's national development plan and infrastructure investments.
The World Bank's technical support in policy refinement and migration issues is acknowledged, with plans for a population policy and immigration reform. The meeting also covers energy sector investments, emphasizing renewable energy and regional cooperation. The World Bank's focus on job quality and productivity is noted, with an emphasis on private sector as a job creator.
The session concluded with discussions on climate finance, energy sector investment and the need for a differentiated approach for small island states.