THE Pacific infrastructure gap required $USD3.1 billion in investment every year.
Pacific Islands Forum Secretary General, Baron Waqa, said this underscored the urgency in the scale of the challenges confronting the region.
Speaking at the Pacific Infrastructure Conference in Brisbane, Waqa said communities in the region were impacted by cyclones, sea level rise, floods, earthquakes, and health-related crises.
“Crises are events that not only endanger lives, but also cause severe and lasting economic setbacks,” Waqa said.
“The Blue Pacific region is one of the most disaster-prone and climate-vulnerable areas for the world.
“To put this in perspective, Fiji lost 31% of GDP (Gross Domestic Product) due to Cyclone Winston back in 2016.”
Waqa told more than 300 delegates that a volcanic eruption in Tanna in 2022 resulted in damage equivalent to 18.5% of the country’s GDP.
“And most recently, the 7.3 magnitude earthquake that struck (Vanuatu) in December 2024 triggered an estimated $USD230 million in recovery costs.”
Waqa said infrastructure investment which could support Pacific countries to overcome the challenges of climate change and disaster risks were not necessarily cheap or available in a timely manner.
The private sector, he said, played a critical role as an engine of economic growth in the region.