[Source: Ministry of Finance, Fiji / Facebook]

Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, has expressed gratitude for the concessional financing Fiji receives through the World Bank’s International Development Association (IDA).

Professor Prasad highlighted this while welcoming World Bank Group President Ajay Banga on a historic visit to Fiji.

Professor Prasad highlighted that IDA funding plays a critical role in addressing the vulnerabilities that small states face.

He adds that IDA is a precious lifeline for Fiji and small states as it gives affordable and long-term finance necessary for fiscal stability.

Professor Prasad says Fiji seeks to work with the World Bank in shaping, designing, and implementing solutions and interventions in an expanded way.

Professor Prasad also expressed eagerness to continue collaborating with the World Bank to strengthen Fiji’s role as a regional hub, improve health sector programs, and expand access to climate financing.

World Bank Group President Ajay Banga expressed his interest in learning from Fiji’s development challenges and exploring how the World Bank can best leverage financing, partnerships, and knowledge to support Fiji and the broader region.

President Banga’s visit marks a significant milestone in the relationship between Fiji and the World Bank, highlighting the importance of continued collaboration and support for the region.