DPM Prasad holds discussions with ADB Board of Directors
DEPUTY Prime Minister and Minister for Finance, Biman Prasad, held in discussions with the Board of Directors of the Asian Development Bank this week. Recognising the invaluable support extended by the ADB, DPM Prasad underscored the institution’s pivotal role as a strategic development partner, emphasising Fiji’s longstanding collaboration with the ADB.
Expressing gratitude to the ADB Board of Directors, he commended their decision to reclassify Fiji as a Group B country under the graduation policy, effective from January 1, 2022.
Highlighting Fiji’s economic trajectory, DPM Prasad emphasised the imperative of economic diversification for achieving broad-based and sustainable growth, with a particular emphasis on the development of the agriculture sector and revitalisation of the sugar industry.
Furthermore, he underscored the critical need for climate-resilient infrastructure, with a specific focus on enhancing Fiji’s medical services, alongside the government’s unwavering commitment to fiscal discipline and domestic resource mobilisation.
In the context of fostering regional cooperation and integration, DPM Prasad reiterated Fiji’s steadfast commitment to regional solidarity in addressing emerging challenges, including geostrategic competition, climate change, and economic vulnerabilities.
Discussions also centered on advancing strategic future plans to propel the nation forward, with a keen emphasis on nurturing the private sector as the primary driver of Fiji’s economic growth. The ADB Board of Directors present at the meeting included:
- Executive Director Rachel Thompson
- Associate Executive Director Llewellyn Roberts
- Executive Director Weihua Liu
- Executive Director Bertrand Furno
- Associate Executive Director Nim Dorji
- Executive Director Shigeo Shimizu