WTW and PCRIC renew disaster insurance for Pacific nations
The Pacific Catastrophe Risk Insurance Company (PCRIC), in collaboration with global advisory firm WTW, has renewed its disaster risk insurance coverage for 2024 and
World Bank
World Bank President Banga sees Climate crisis up close in Tuvalu
World Bank President, Ajay Banga made a historic visit to Tuvalu Friday, becoming the first head of the global financial institution to set foot in the climate-threatened Pacific nation. During his visit, Banga
World Bank approves $68 million cross-border bank lifeline for remote Pacific Islands
The World Bank’s board has approved a US$68 million programme to prevent Pacific Island nations from being cut off from the international financial system that underpins tourism, trade and aid flows, the
World Bank President pledges faster project approvals for Pacific
World Bank President Ajay Banga has vowed to accelerate the pace of project approvals, emphasising his commitment to speed and efficiency in addressing the needs of the Pacific region. Speaking to Pacific leaders in
World Bank President Ajay Banga calls for stronger partnership with Fiji and Pacific
World Bank President Ajay Banga, in a historic visit to Fiji emphasised the need for stronger partnerships with Pacific nations. Banga’s visit, the first by a World Bank President to the Pacific in nearly 50 years,
The World Bank head has thoughts on the Pacific – and needs Australia’s help
The president of the World Bank is due in Australia this week offering to be a force-multiplier for good in the Pacific Island states, and expecting some federal funding to do so. In the first visit by a World Bank
Papua New Guinea has ‘human capital crisis’, says World Bank
The World Bank has urged the largest Pacific Island nation, Papua New Guinea, to address a “human capital crisis” and invest more in educating children, who suffer high rates of stunted growth and illiteracy, as a
Samoa no longer in ‘debt distress’: Minister
Samoa has been taken off the list of “debt distress” nations and is now eligible to apply for loans from the International Monetary Fund or the World Bank. The Minister of Finance, Lautimuia Uelese
Hundreds of World Bank climate projects have no direct connection to climate, research finds
Several hundred World Bank-backed projects with the stated aim of tackling climate change have no obvious connection to climate mitigation, a U.S. report finds, questioning its spending figures over two decades.
US$23 million to strengthen Tuvalu’s aviation sector
Tuvalu will soon receive US$23 million in grant financing to enhance its aviation sector, the World Bank has announced. Through its Tuvalu Safe and Resilient Aviation Project, the Bank says it aims to improve the
Widen tax base, spend more efficiently
World Bank's Advice to 9 Pacific Economies The World Bank says six Pacific Island countries are at high risk of debt distress, and that gradual cuts to government spending are vital for balancing budgets and avoiding
Fiji, the World Bank and debt
When Fiji’s Minister for Economy delivers his budget address this evening many eyes will be on figures around the country’s debt-to GDP ratios. This week, Pacific Islands Forum Economic Ministers were preoccupied
Fiji welcomes World Bank business ranking review
The Fiji government has welcomed the World Bank’s decision to pause publication of its 2021 Doing Business Report. In a statement released last week, The World Bank said a number of irregularities had been reported
Poor governance in the Pacific: the forgotten issue
By Stephen Howes There was a time when the Australia lectured the Pacific. John Howard said in 2004 that Australia had a “special responsibility” to help the Pacific but that we sought “reforms and