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Fiji To Chair Asian Development Bank Regional Meeting In 2017

Fiji will chair the 27th Governor’s Meeting of the Pacific Developing Member Countries (PDMC) of the Asian Development Bank when the ADB holds its next annual gathering in Japan next
04 May 2016 09:53
Fiji To Chair Asian Development Bank Regional Meeting In 2017
Attorney-General Aiyaz Sayed-Khaiyum at the 26th PDMC Governor’s meeting in Frankfurt, Germany. Photo: DEPTFO News

Fiji will chair the 27th Governor’s Meeting of the Pacific Developing Member Countries (PDMC) of the Asian Development Bank when the ADB holds its next annual gathering in Japan next year.

The position of chair will be assumed by the Attorney-General and Minister for Finance, Aiyaz Sayed-Khaiyum, who has been attending the current 26th PDMC Governor’s Meeting in Frankfurt, Germany.

Mr Sayed-Khaiyum led a discussion by finance ministers of the ADB Pacific Member Countries on how they can gain better access to finance to build their resilience to the extreme weather events and rising sea levels caused by climate change.

He said there was a need for climate financing to be mainstreamed into all development financing including national budgets.

He said because extreme weather events were likely to be more frequent and more intense, it was vital that all future infrastructure investments in the region be climate resilient.

Mr Sayed-Khaiyum said Pacific Island countries needed to collaborate on formulating bankable projects to build resilience and access funding.

He said that because island nations were relatively small and had limited economic bases, they needed to work closely together to confront the challenge of climate change together.

And this could be achieved by countries with similar economic needs collaborating on a regional or sub regional basis.

There was general consensus among the Pacific delegates that Fiji’s proposal was the appropriate way forward and Mr Sayed-Khaiyum will chair the PDMC’s next gathering during the 50th ADB annual meeting in Yokohama, Japan, in 2017.

 

 

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