PINA

The move by the Asian Development Bank (ADB) to promote itself as climate bank for Asia Pacific region has been welcomed by its 14 Pacific Developing Member States (PMDCs). And the Pacific DMCs have collectively challenged the ADB to ensure that ‘practical fit for purpose policies are in place for small island developing states (SIDS).’ Speaking on behalf of all the...

Pacific countries have sought the help of the Asian Development Bank (ADB) to secure correspondent banking partners to increase investment and raise opportunities for local businesses. The 14 Pacific Developing Member States (PMDCs) raised their concerns over the loss of three correspondent banking relations (CBRs) and de-risking of remittance service providers as a serious threat to the region’s financial viability...

The United States, one of the donors of the Asian Development Bank (ADB) has raised the issue of procurement as a critical issue for the bank to address. U.S Governor representative to the ADB, Alexia Latortue said her government has played a pivotal role in driving ADB’s procurement reforms since 2017. This was the first step in shifting from a rigid,...

Japan, the largest donor to the Asian Development Bank (ADF) has asked that particular emphasis is placed on Small Island Developing States (SIDS) in the disbursement of Asian Development Fund (ADF14) funds. The call was made by Shunichi Suzuki, the ADB Governor for Japan, in his statement to the Annual Governors meeting in Tbilisi, Georgia Sunday. “A particular emphasis should be...

Australia has welcomed the Asian Development Bank’s responsiveness to concerns of its developing member countries in the Pacific on the complex issues surrounding quality procurement and infrastructure. However, more sustained effort will be needed to effectively address these concerns. This was one of the key messages from Australia’s Treasurer, Dr Jim Chalmers to ADB Governors meeting in the Georgian capital, Tbilisi...

Private and public companies that bid for contracts funded through the Asian Development Bank’s Public-Private Partnership (PPP) can expect gender equality component requirements in the bid document. This follows the launch of ADB’s gender equality toolkit for PPPs in November last year. This initiative by the regional multilateral development bank reflects a growing appreciation of the pivotal role gender equality plays...

Innovative and well thought out green monetary policies like green and blue bonds are great to address climate action – but negligible when compared to the speed of damage caused to infrastructure by climate crisis in the Pacific. In some Pacific nations, the damage and loss to GDP is between 30-100 percent. This point was pushed through strongly by Fiji’s deputy...

The Asian Development Bank (ADB) has reformed and positioned itself as the climate bank for the Asia Pacific region. And the bank has matched it with an ambitious pledge to raise USD$100 billion from its own resources by 2030 for climate action – going beyond an earlier USD$80 billion commitment. In November last year, the ADB launched its Climate Change Action...

Limited capacity in human resources – both in numbers and capabilities is one of the three challenges slowing Samoa’s progress towards meeting its sustainable development goals. The other two, according to finance chief executive officer, Maeva Betham Vaai, are the impact of climate change and the two health crises in 2019 that forced a set-back on the island nation’s development...

New Zealand's foreign minister on Friday hit out at China's bid for an increased security presence in the Pacific Islands, warning against actions that could “destabilise” or undermine regional security. “China has a long-standing presence in the Pacific, but we are seriously concerned by increased engagement in Pacific security sectors,” Winston Peters said in a speech on relations with China...