Biman highlights threats to small developing countries at spring meeting
The Minister for Finance Biman Prasad joined the World Bank vice president, Manuella Ferro in a panel discussion on “Adaptation, Migration and Survival - The imperative of climate change adaptation in East Asia and the Pacific”.
Mr Prasad reiterated the existential threat posed by climate change to small island developing countries like Fiji and the need for urgent collective global climate action with a strong focus on adaptation and resilience building.
He highlighted the need for developed countries to share the burden of adaptation financing and the need for COP 28 discussions to bring some defining closure on improving access to climate financing, including loss and damage.
The need for mainstreaming climate adaptation action in broader national development planning and project design was also highlighted.
Other members in the panel included Ambassador Gerald Zackios from the Republic of Marshall Islands, Mark Dennis Joven, Undersecretary Department of Finance, Philippines and Masyita Crystallin (Sherpa for Colaition of Finance Ministers for Climate Change), Indonesia. Mr Prasad led a delegation to the IMF/World Bank group Spring Meeting and met at the margins of this meeting with the Deputy Assistant Secretary of State for East Asia & Pacific Affairs, Mark Baxter Lambert, this morning at the State Department.
Mr Lambert welcomed and congratulated Mr Prasad on his appointment and the Government of Fiji for the support and hospitality rendered towards the US delegation visit to Fiji earlier this year.
The team discussed emerging issues and areas for further collaboration which includes the importance of strengthening relationships between US, Fiji and the region, enhance support of US in Education, Law Enforcement, Health, Infrastructure Development, and climate change financing.