Kamna Kumar 
Green financing is critical to address the Pacific region’s climate change challenges says Deputy Prime Minister and Finance Minister, Professor Biman Prasad.
Speaking at the IMF Macroeconomics of Climate Change Course, Professor Prasad says sustainable financial models are needed to support climate action.
He states that the region is facing unique challenges.
“Green financing is a priority. I see the suit of green financing as part of the course. Mobilizing the support for sustainable development generally is vital for addressing climate change. As I said, a lot of these different models of financing can be quite onerous for the Pacific Island countries.”
Prasad is calling for reforms within multilateral development banks, including the World Bank and the Asian Development Bank.
He is also urging development partners to collaborate in providing quick and substantial funding.
The IMF Macroeconomics of Climate Change Course, which brings together 32 participants from 16 Pacific countries, will conclude on January 31.
