Asian Development Bank

ADB President pledges expanded support for Fiji and Pacific Islands

On his first official visit to Fiji,  Nakao also called on Attorney General and Finance Minister Aiyaz Sayed-Khaiyum and Foreign Affairs Minister Ratu Inoke Kubuabola. Discussions focused on ways ADB can further enhance its support for Fiji to meet its development priorities.    

Nakao’s programme also included a visit to the ADB-supported Kinoya wastewater treatment plant near Suva and an official address at the University of the South Pacific (USP), where he discussed potential opportunities and policy priorities for Pacific island countries.

ADB stands ready to support Pacific Regionalism key priorities

President Nakao made the statement Friday in his public lecture at the University of the South Pacific on “Pacific Islands: Development Opportunities and policies priorities.

“ADB recognises the diversity of the Pacific. The region has over 800 languages. Pacific Island economies are very different. But a regional approach to common challenges can benefit all.

“Pacific Island leaders will be discussing a new framework for Pacific regionalism at the Forum Leaders meeting in Port Moresby in early September. ADB stands ready to support their key priorities,” he stressed.

Pacific region buffered from falling Chinese markets

Emma Veve of the Asian Development Bank (ADB) says commodity exporters like Papua New Guinea will feel the effects of lower prices for their products and preparations must be made for this.

Veve says there will be a slow down in the number of outbound tourists from China but the market is so huge countries dependent on the China trade like Fiji and Palau will barely feel the shock.

She says the devaluation of the yuan eases the way for countries heavily reliant on imported fuel and concessionary Chinese loans.

Timor Leste, ADB launch next stage of key water supply project

Those taking part included Mari Alkatiri, President of the Oecusse Special Economic Zone, and Richard Phelps, Principal Infrastructure Specialist, ADB.

“This next phase will continue the push to reduce the incidence of water-related diseases, to deliver 24-hour supplies to target urban areas, and to lessen the workload of women who currently bear the brunt of water collection activities,” said Phelps at the ceremony.

Fiji Government looks to refinance US $250m Bond

Finance Permanent Secretary Filimone Waqabaca says talks have been held with various international financial institutions to work out the best solution.

“The payment next year will be in full, it will probably be a rollover depending on the arrangement that we will agree on now, so it will be a, we will have to roll over or do another float in order to repay that, but part of it will probably be taken from our funds that we have been keeping aside to help in the funding aspect of it as well.”