Prime Minister Frank Bainimarama says he is pleased to see Fiji’s relationship with the World Bank developing to new heights in the mutually beneficial pursuit of economic development and global stability.
PM Bainimarama met with the Managing Director Operations of the World Bank, Axel van Trotsenburg in the margins of COP25 in Madrid, Spain.
“I am very appreciative of the World Bank’s International Development Association (IDA) eligibility that supports and recognises the unique development challenges faced by small and vulnerable states through the Small Island Economies Exception policy.
PM Bainimarama adds Fiji’s re-classification as an IDA-eligible country will help the country further address the current and future impacts of climate change to our people, environment, and economy.
With the World Bank’s South Pacific Hub based in Suva, PM adds the new hub will play a significant role in the promotion of new financial innovation in the Pacific.