World Bank Fiji News Feed

WASHINGTON, D.C., November 7, 2019 – The World Bank’s Board of Executive Directors today approved US$64 million in support for Fiji’s efforts to strengthen its medium-term fiscal sustainability, improve the country’s business climate, and build resilience to climate change. The new operation will also support enhancements to Fiji’s business environment through improvements to Fiji’s business registration procedures, as well as improved access to finance – particularly for women. It is the second in a series of two World Bank operations to support Fiji. “Fiji’s surging partnership with the World Bank is represented by far more than the monetary value of... Read more »

IBRD Loan: US$ 6.0 million equivalent Terms: Maturity = 15 years; Grace = 5 years IDA Credit: US$ 29.0 million equivalent Terms: Maturity = 40 years; Grace = 10 years IDA Scale-Up Facility Credit: US$ 29.0 million equivalent Terms: Maturity = 30 years; Grace = 10 years Project ID: P168402 Project Description: The program development objective is to support the government’s efforts to: (i) strengthen medium-term fiscal sustainability; (ii) improve the business climate; and (iii) build climate resilience.... Read more »

Future Pasifika, a partnership between the University of the South Pacific (USP), the World Bank and its sister organization, the International Finance Corporation (IFC), is a platform for thought leaders to share ideas on how the Pacific can collaborate to tackle the big issues facing this unique and vulnerable region. In October 2019, the second Future Pasifika event was held at the USP in Suva, where a panel of information communications technology (ICT) experts discussed various issues on digital connectivity. “There’s no doubt that the Pacific has moved forward in leaps and bounds on the ICT front since the 1990s... Read more »

World Bank Group calls for feedback on potential focus areas for 2020 to 2024 SUVA, 29 July 2019 – The World Bank Group has started national consultations to map out its strategy in Fiji for the next four years for work to be undertaken by the World Bank and its sister organisation, the International Finance Corporation, IFC. Open to all Fijian people, as well as representatives from civil society organisations, academics, development partners, the private sector and key government ministries, the consultations will form the basis of the first ever World Bank Group Country Partnership Framework for Fiji. It’s a... Read more »

DENARAU, May 6, 2019 - Pacific Finance Ministers came together today in Denarau, Fiji, to respond to the World Bank’s call for increased investments in human capital -- the knowledge, skills, and health that people accumulate over their lives. Ministers of Finance from several Pacific Island countries including Fiji and Samoa joined the World Bank to discuss the challenges their countries face, including significant deficits in nutrition, hygiene, healthcare and education. In the Pacific region, deficiencies in these areas have led to stunting in one out of four children, and as high as one in two in Papua New Guinea.... Read more »

DENARAU, May 6, 2019 - Pacific Finance Ministers came together today in Denarau, Fiji, to respond to the World Bank’s call for increased investments in human capital -- the knowledge, skills, and health that people accumulate over their lives. Ministers of Finance from several Pacific Island countries including Fiji joined the World Bank to discuss the challenges their countries face, including significant deficits in nutrition, hygiene, healthcare and education. In the Pacific region, deficiencies in these areas have led to stunting in one out of four children, and as high as one in two in Papua New Guinea. In terms... Read more »

Fiji gains access to new World Bank concessional funding SUVA, April 26, 2019 – Fiji is set to receive at least US$21 million (FJ$44m) annually through additional World Bank funding. For the first time, Fiji has access to funding through the International Development Association (IDA), the World Bank Group’s arm for supporting the world’s most in-need countries, including funding for key regional development projects and to support the country in the event of a crisis. “We are justifiably proud of the close partnership we are building with the World Bank Group, with recent successes including the Fijian Green Bond –... Read more »

Growth in developing EAP economies is projected to decelerate in the near term. Regional growth is projected to decline from 6.3 percent in 2018 to 5.8 percent in 2019 and to 5.7 and 5.6 percent in 2020 and 2021, respectively. Growth projections have been downgraded from the April 2019 EAP Economic Update for the majority of the region’s economies.  In China, heightened trade tensions with the United States have accelerated the moderation in growth already underway as the government focuses on rebalancing the economy towards consumption. Growth in the region’s other large economies has also moderated and the recovery in... Read more »

World Bank and International Finance Corporation significantly increasing commitment to the Pacific SUVA, March 18, 2019 – The World Bank Group has taken an important step in significantly increasing its presence in the Pacific, with the official opening of a new office in Suva, Fiji, which will serve as a regional hub for the development institution’s work across the region. The new regional hub will be integral to the World Bank Group's delivery of more than one billion Fiji dollars’ worth of projects across six countries (Fiji, Nauru, Kiribati, Samoa, Tonga and Tuvalu) in a wide range of sectors including... Read more »

Two students from The University of the South Pacific (USP) are the first in the world to complete a new World Bank Group online training ‘Disaster Risk Finance in the Pacific’. Mr. Alick Suimae of the Solomon Islands and Milika Kuruvakadua of Fiji completed the training in October 2018, and were officially recognised by the World Bank Group as the inaugural graduates in a presentation at USP last week. Ms. Kuruvakadua, who is undertaking a Bachelor of Commerce in Finance and Banking, was surprised to hear she was one of the first to complete the new training. “Disaster Risk Finance is... Read more »