Fiji to Chair Asian De­vel­op­ment Bank Re­gional Meet­ing in 2017

At­tor­ney-Gen­eral will lead meet­ing in Ja­pan next year

Fiji Sun - - Fiji Today - Source: DEPTFO News Feed­back: jy­otip@fi­

Fiji will chair the 27th Gover­nor’s Meet­ing of the Pa­cific De­vel­op­ing Mem­ber Coun­tries ( PDMC) of the Asian De­vel­op­ment Bank when the ADB holds its next an­nual gath­er­ing in Ja­pan next year.

The po­si­tion of chair will be as­sumed by the At­tor­ney-Gen­eral and Min­is­ter for Fi­nance, Aiyaz Sayed-Khaiyum, who has been at­tend­ing the cur­rent 26th PDMC Gover­nor’s Meet­ing in Frank­furt, Ger­many. Mr Sayed-Khaiyum led a dis­cus­sion by fi­nance min­is­ters of the ADB Pa­cific Mem­ber Coun­tries on how they can gain bet­ter ac­cess to fi­nance to build their re­silience to the ex­treme weather events and ris­ing sea lev­els caused by cli­mate change. He said there was a need for cli­mate fi­nanc­ing to be main­streamed into all de­vel­op­ment fi­nanc­ing in­clud­ing na­tional bud­gets. He said be­cause ex­treme weather events were likely to be more fre­quent and more in­tense, it was vi­tal that all fu­ture in­fra­struc­ture in­vest­ments in the re­gion be cli­mate re­silient. Mr Sayed-Khaiyum said Pa­cific Is­land coun­tries needed to col­lab­o­rate on for­mu­lat­ing bankable projects to build re­silience and ac­cess fund­ing. He said that be­cause is­land na­tions were rel­a­tively small and had limited eco­nomic bases, they needed to work closely to­gether to con­front the chal­lenge of cli­mate change to­gether. And this could be achieved by coun­tries with sim­i­lar eco­nomic needs col­lab­o­rat­ing on a re­gional or sub re­gional ba­sis. There was gen­eral con­sen­sus among the Pa­cific del­e­gates that Fiji’s pro­posal was the ap­pro­pri­ate way for­ward and Mr Sayed-Khaiyum will chair the PDMC’s next gath­er­ing dur­ing the 50th ADB an­nual meet­ing in Yokohama, Ja­pan, in 2017.

Photo: DEPTFO News

At­tor­ney-Gen­eral Aiyaz Sayed-Khaiyum at the 26th PDMC Gover­nor’s meet­ing in Frank­furt, Ger­many.

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