Adaption finance is important – Prof Prasad

While sharing Fiji’s advancements in climate action during the Small States Forum, Deputy Prime Minister Professor Biman Prasad stressed the importance of adaptation financing through the International Development Association’s 21st replenishment.

Professor Prasad also advocated for regional collaboration, pointing to the regional correspondent banking arrangement as a successful model for stability and growth.

He says pooling resources and expertise within the region can drive sustainable development and strengthen resilience against climate threats.

World Bank President Ajay Banga, in his opening remarks, emphasised the need to streamline project appraisals, enhance local capacity and foster partnerships to support these vulnerable regions.

Drawing on insights from his recent visits to Fiji and Tuvalu, Banga highlighted that collaboration across governments, development banks and the private sector is crucial for creating impactful, sustainable solutions.