DPM Prasad Highlights Urgent Need for Regional Cooperation on Infrastructure Development

Deputy Prime Minister and Minister for Finance, Hon. Professor Biman Prasad, has called for stronger regional cooperation to address the Pacific’s growing infrastructure deficit, describing it as a critical barrier to sustainable and climate-resilient development.

He highlighted this while welcoming the Asian Infrastructure Investment Bank Vice President Ludger Schuknecht and Development Partners for the Pacific Regional Outreach Meeting in Nadi last night.

Hon. Prasad said the Pacific continues to face multiple and compounding challenges – from heightened climate vulnerabilities and fiscal pressures, to limited connectivity and access. These, he said, have eroded years of progress in development across the region.

“The Pacific’s infrastructure deficit is not just about roads, bridges or buildings – it is a deficit of hope and opportunity,” Hon. Prasad said.

“To improve healthcare, we need roads that don’t flood each time it rains. To improve education, we need digital connectivity that reaches our most remote islands and rugged highlands.”

The Deputy Prime Minister stressed that climate catastrophes, earthquakes and financial constraints have all taken a heavy toll on the region’s ability to build and maintain critical infrastructure.

He said discussions at the Forum are timely, as Pacific leaders will soon gather in Honiara where infrastructure development will be a key priority.

The 2 day Pacific Regional Outreach aims to bring the Pacific members and the Asian Infrastructure Investment Bank (AIIB) together to start an enduring relationship.