Fiji will host the 50th Annual Meeting of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) in 2027, bringing senior representatives of development banks, financial institutions, governments and development partners to the country.
The Fiji Development Bank secured the hosting rights at ADFIAP’s 49th annual meeting in Colombo, Sri Lanka, held in September.
The organisation’s network extends across 42 countries and 97 member institutions, giving Fiji an opportunity to showcase investment opportunities and its growing role in areas such as climate and blue-economy finance.
Fiji Development Bank chief executive Filimone Waqabaca was also elected one of ADFIAP’s two vice-chairmen, giving Fiji a stronger voice within the regional development finance organisation.
The bank received a Merit Award for its Sustainable Blue Finance Facility, which supports economic activity while directing finance towards projects connected with ocean protection, livelihoods and climate resilience.
Waqabaca said hosting the 50th annual meeting would provide Fiji with an opportunity to demonstrate its development journey and strengthen partnerships supporting sustainable economic growth.
For Fiji, the conference comes at a time when development finance is becoming increasingly important to the delivery of major infrastructure and climate-resilience projects.
Pacific island economies face unusually high infrastructure costs because of geography, small markets and vulnerability to extreme weather. At the same time, governments across the region are seeking greater private-sector participation in infrastructure, renewable energy, transport, tourism and telecommunications.
The meeting should therefore have relevance beyond the development banking sector. Australian financial institutions, investment advisers, engineering firms and infrastructure companies with Pacific interests will have an opportunity to engage with a broad cross-section of regional development financiers.
It also provides Fiji with a platform to promote itself as a centre for Pacific financial and investment discussions.
The decision to award the landmark meeting to Fiji reflects the country’s increasing visibility within regional development finance and comes as Fiji seeks larger and more innovative pools of capital to support economic growth.
