Over the past seven years, the government has spent more than $600 million on recovery and rehabilitation efforts following natural disasters.

This was emphasised by the Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, while launching the first “Towards Resilient Public Finance: National Assessment of the Fiscal Risks in Critical Infrastructure Sectors in Fiji” study report this morning.

Professor Prasad says the cost isn’t just a number; it shows how people’s lives, jobs, and services like health and education have been affected.

He adds that the study will help create Fiji’s first disaster risk financing policy, providing the tools and strategies needed to prepare the national budget and respond better to future disasters.

“Our national development plan 2025, 2029, and Vision 2050 make it very clear: every road, seaport, airport, water, waste, and energy system must be designed for the climate realities of tomorrow, not just based on the patterns of yesterday. That is why Fiji and all of us in the Pacific have been calling for climate finance that is accessible, predictable, and scaled to meet our urgent needs; that’s most important.”

The Deputy Prime Minister adds that we are committed to strengthening and expanding contingent financing arrangements to ensure that when disaster strikes, resources are not only available but can be deployed immediately.

Deputy Prime Minister and Minister for Finance, Professor Biman Prasad.

He also says that Fiji has a standby concessional loan facility of roughly $72 million with Japan for future disaster recovery and rehabilitation needs.

Global Director of CDRI, Ramesh Subramaniam, says that this study includes data on various disasters that have struck Fiji and will help the country plan for the development of resilient infrastructure.

“So first is looking at past data; second is learning from it. For instance, what has been the extent of the damages, what has been the fiscal response, and what is the gap between the damages and losses and the fiscal response? That gap is very important for us to consider when planning for the future.”

The Ministry of Finance is working to build contingencies and aims to raise $500 million through the Pacific Resilience Fund to help communities become more resilient.

Stream the best of Fiji on VITI+. Anytime. Anywhere.