ASIATODAY.ID, PORT MORESBY — The World Bank Group is intensifying its engagement in the Pacific region, launching a series of strategic initiatives aimed at strengthening island economies, accelerating job creation, and unlocking greater private sector investment.
On March 9, 2026, a high-level delegation led by Felipe Jaramillo, Sarvesh Suri, and Gallina Vincelette visited Fiji, Papua New Guinea, Australia, and New Zealand to deepen partnerships with governments and private sector stakeholders.
One of the key milestones of the visit took place in Goroka, Papua New Guinea, where the delegation joined Prime Minister James Marape to mark the launch of the National Agriculture Sector Plan 2024–2033.
The ambitious strategy aims to commercialize the country’s agricultural sector and generate one million jobs by 2033, aligned with the World Bank’s global AgriConnect initiative.
In Fiji, the World Bank Group introduced its new Small States Strategy, designed to address the structural vulnerabilities faced by small island economies. The framework focuses on strengthening economic resilience, expanding job opportunities, and promoting private sector–led growth.
During the visit, the International Finance Corporation also announced a partnership with BRED Bank to improve financing access for small and medium-sized enterprises (SMEs).
In addition, a Grant Facility for Project Preparation agreement was signed to support Fiji’s transition toward cleaner and more resilient energy systems.
The delegation also traveled to Vanua Levu, where ongoing development programs are strengthening tourism as a major driver of jobs and economic growth.
Key projects include upgrades to the airports in Savusavu and Labasa, aimed at improving connectivity and boosting visitor arrivals.
Meanwhile, in Australia and New Zealand, World Bank officials held discussions with government counterparts and business leaders on new procurement reforms.
The reforms are intended to broaden opportunities for domestic and international firms to compete for World Bank-financed projects while ensuring stronger participation from local workers.
According to the World Bank Group, its Pacific engagement reflects a broader strategy of transforming economic growth into real jobs for local communities, rather than shifting employment from developed economies.
Globally, the challenge of job creation remains immense. Over the next 10 to 15 years, around 1.2 billion young people in developing countries will reach working age, while only about 400 million jobs are expected to be created.
To address this gap, the World Bank Group is prioritizing investments in physical and human infrastructure, fostering business-friendly environments, and mobilizing private capital.
The institution is focusing on five high-impact sectors with the strongest potential for job creation: infrastructure and energy, agribusiness, primary healthcare, tourism, and value-added manufacturing—industries expected to drive inclusive growth and long-term stability across the Pacific region. (AT Network)
Follow Us at Google News and WA Channel