FBC News 
[Source: Fiji Government/ Facebook]
Minister for Finance Biman Prasad joined the ‘Roundtable on IMF Policies and Priorities’ in Marrakech, Morocco during the 2023 World Bank/IMF Annual meeting on Wednesday.
The meeting was convened and chaired by Janet Yellen, Secretary of the Treasury of the United States.
Participants included Indian Finance Minister Nirmala Sitharaman and other Finance Ministers.
Prasad thanked the US Treasury Secretary Yellen for convening the roundtable discussion in line with this year’s theme of Global Impact, Global Action as many countries call for the reform of the international financial architecture.
Prasad sought the assistance of the US Treasury and IMF in voicing the concerns of Small Island Developing States (SIDS).
The system for accessing climate finance is onerous and SIDS experience severe capacity constraints in developing and financing bankable projects.
He stressed that support is needed to address the lack of capacity to develop concept notes and funding proposals.
The Deputy Prime Minister called for climate funds to create a dedicated window for vulnerable SIDS to address the vulnerability of Pacific SIDS and ensure access to financing.
The U.S. Treasury has proposed several policy priorities to drive forward how the IMF could better support its membership and members provided views on how they see the role of the IMF in supporting the needs of its membership.
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