The World Bank Group President, Ajay Banga met last week with Leaders and representatives of Forum member governments that are members of the World Bank Group.
The meeting took place at the Pacific Islands Forum Secretariat in Suva, Fiji.
The high-level meeting provided a crucial platform for Pacific leaders to engage directly with the World Bank President and discuss a range of pressing issues impacting the region.
In his welcoming remarks, Hu’akavameiliku Siaosi Sovaleni, Prime Minister of Tonga and Chair of the Pacific Islands Forum spoke of the significance of the President’s visit to the Pacific region, with the High-Level dialogue in Suva “marking a new chapter in the World Bank’s engagement with the Blue Pacific continent.”
“We would like to see a bigger focus on building resilience with the education and health sectors in terms of labour and capacity, technology and innovation, and climate-proofing infrastructure,” said PM Hu’akavameiliku.
“We as a region would like to see a more responsive international and multilateral system to the increasing impact of climate-related disasters here in the Pacific. We look forward to closer cooperation with the World Bank and consider the Bank a genuine partner in our endeavours to transform and build a resilient Pacific.”
Following the remarks of the Forum Chair, the Pacific Islands Forum Secretary General, Baron Waqa acknowledged the World Bank’s engagement with the Pacific in support of regional cooperation and integration and hoped for continued support of “regional collective actions” identified in the 2050 Strategy for the Blue Pacific Continent (2050 Strategy) Implementation Plan.
In his remarks, World Bank President, Ajay Banga thanked the Pacific Islands Forum World Bank Members for the opportunity to meet and highlighted the renewed commitment of the Bank to provide support and address the development needs of Pacific Members.
“I want to listen to you, because I am here to learn,” he said to Leaders.
President Banga also shared the Bank’s vision for “the idea of a liveable planet” which echoed the Pacific climate priorities envisioned by Pacific Leaders.
“My belief on this is focused on women and young people – women because they are half the population of our world, and even today, even in the developed world, they do not get a fair opportunity- but it is not just about fair opportunity. It is about the economic power that they will unlock if they have a fair opportunity,” he said.
President Banga explained the parallel focus on jobs for young people in the same manner – with the Pacific youth bulge and more than a billion young people due to be job hunting in the next decade around the world, “it is a dividend if these young people have clean air, clean water, health care and education when they are growing up, and a job when they are done– because with decent jobs comes income, but more importantly, with the income comes dignity, and dignity is the hope of the future.”
The talanoa agenda covered a wide range of insights shared by Pacific Leaders in support for the:
•World Bank International Development Association (IDA) future financing in the Pacific and a robust IDA21 replenishment to meet growing needs in the Pacific,
•Pacific Strengthening Correspondent Banking Relationships (CBR) Project,
•2050 Strategy and its Implementation Plan,
•Pacific Roadmap for Economic Development (PRED),
•Pacific Resilience Facility,
•Easier, more accessible and upscaled climate change finance for the Pacific, and
•Regional development in Fisheries, including the East New Britain Initiative (ENBI).
The meeting concluded with a commitment from the Pacific Leaders to issue a joint outcome statement, which will be finalised out of session.
This is only the third time a World Bank President has visited the Pacific region, after an initial visit in 1974 to Fiji, then in 1999 to PNG.
Following President Banga’s Fiji visit, he visited Tuvalu on Friday, 6 September. This is the first time a World Bank President has visited Tuvalu.
