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More adaptation funds needed: Professor Prasad

April 28, 2023 12:21 pm

Professor Biman Prasad [Source: Fiji Government]

Minister for Finance, Professor Biman Prasad, says urgent collective global climate action with more adaptation funds is needed in the Pacific.

Prasad says he was able to hold bilateral meetings with officials from the International Monetary Fund, the World Bank, the Commonwealth, and the Asian Development Bank on accessing climate finance.

The Finance Minister was in Washington, D.C., earlier this month.

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Professor Prasad says climate adaptation action should be included in broader national development plans and project designs.

“The developed countries have promised $100 billion for climate adaptation and mitigation funding.” “It’s nowhere near, and the anger among the developing countries and small island states to ask for additional funding is being realized by the international organizations and the developed countries as well.”

Professor Prasad also encourages the private and public sectors to work together to build climate resilience.

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