Government of the Republic of Fiji
Government of the Republic of Fiji
05/05/2025 | Press release | Distributed by Public on 05/04/2025 17:08
FIJI REPRESENTED AT THE 35TH PACIFIC DMC...
Deputy Prime Minister, Minister for Finance, and Governor for Fiji to the Asian Development Bank (ADB), Hon. Biman Prasad, participated in the 35th Pacific Developing Member Countries (DMCs) Governors' Meeting held on the margins of the ADB Annual Meeting in Milan.
The meeting brought together Finance Ministers and heads of delegation from 13 Pacific nations, who engaged in a high-level dialogue with the ADB President and senior management.
The Pacific DMC Governors deliberated on pressing regional and global issues, including the growing uncertainty arising from tariff escalations, geopolitical conflicts, and persistent climate threats.
Discussions also touched on accelerating private sector development, advancing regional cooperation and integration, and enhancing the effectiveness of development financing across the Pacific.
In his remarks, DPM Prasad acknowledged the deeply unsettling global environment and the need for Pacific countries to remain united. He called for deeper and more meaningful regional integration, proposing bold steps such as a visa-free Pacific-including Australia and New Zealand-to enable greater movement of people and ideas, investment, and harmonisation of policies, laws, and regulations to foster regional solidarity and cooperation.
DPM Prasad led the discussion on private sector development, highlighting the distinct challenges faced by the Pacific and advocating for a differentiated approach tailored to the region's context. He proposed a relook at ADB's Private Sector Window to ensure it is fit-for-purpose for Pacific needs, including a stronger focus on downstream support and the placement of more technical specialists on the ground to support project implementation.
The Deputy Prime Minister conveyed appreciation to ADB for its growing engagement in the region and reaffirmed Fiji's commitment to working with development partners to build a stronger, more dynamic, and resilient Pacific.
ADB President Masato Kanda acknowledged the unique vulnerabilities of the Pacific DMCs and affirmed ADB's support to work more closely with Pacific leaders to respond to the region's specific challenges and unlock greater development opportunities.
The meeting brought together Finance Ministers and heads of delegation from 13 Pacific nations, who engaged in a high-level dialogue with the ADB President and senior management.
The Pacific DMC Governors deliberated on pressing regional and global issues, including the growing uncertainty arising from tariff escalations, geopolitical conflicts, and persistent climate threats.
Discussions also touched on accelerating private sector development, advancing regional cooperation and integration, and enhancing the effectiveness of development financing across the Pacific.
In his remarks, DPM Prasad acknowledged the deeply unsettling global environment and the need for Pacific countries to remain united. He called for deeper and more meaningful regional integration, proposing bold steps such as a visa-free Pacific-including Australia and New Zealand-to enable greater movement of people and ideas, investment, and harmonisation of policies, laws, and regulations to foster regional solidarity and cooperation.
DPM Prasad led the discussion on private sector development, highlighting the distinct challenges faced by the Pacific and advocating for a differentiated approach tailored to the region's context. He proposed a relook at ADB's Private Sector Window to ensure it is fit-for-purpose for Pacific needs, including a stronger focus on downstream support and the placement of more technical specialists on the ground to support project implementation.
The Deputy Prime Minister conveyed appreciation to ADB for its growing engagement in the region and reaffirmed Fiji's commitment to working with development partners to build a stronger, more dynamic, and resilient Pacific.
ADB President Masato Kanda acknowledged the unique vulnerabilities of the Pacific DMCs and affirmed ADB's support to work more closely with Pacific leaders to respond to the region's specific challenges and unlock greater development opportunities.
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