World Bank Governor's Statement No. 7 - October 25, 2024 - 2025 Pacific Statement

Jul 19, 2026

Statement by Delvin O'Neale Thoma, Alternate Governor of the IBRD for Nauru, delivering the 2025 Pacific Statement at the World Bank Group Annual Meetings on behalf of multiple Pacific member economies. The statement calls for a robust IDA21 replenishment aligned with the 2050 Blue Pacific strategy, emphasizes climate change mitigation and adaptation support, highlights debt flexibility measures under the CRDC and RRO, and urges access to global climate funds at scale.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages4

Reading Time10 min

AccessFree to download

Call for a Robust IDA21 Replenishment

Climate Change and Resilience

Economic Development, Connectivity and Regional Integration

Human Capital and Job Creation

Sustainable Finance and Debt Management

Strengthening Correspondent Banking Relationships (CBR)

Public Disclosure Authorized Public Disclosure Authorized World Bank Governor's Statement No. 7 October 25, 2024 Statement by the Hon. DELVIN O'NEALE THOMA, Alternate Governor of the IBRD for NAURU, ON BEHALF OF THE FEDERATED STATES OF MICRONESIA, KIRIBATI, MARSHALL ISLANDS, NAURU, PALAU, SAMOA, SOLOMON ISLANDS, TUVALU AND VANUATU Statement by the Hon. Delvin O'Neale Thoma, Alternate Governor of the IBRD for Nauru, on Behalf of the Federated States of Micronesia, Kiribati, Marshall Islands, Nauru, Palau, Samoa, Solomon Islands, Tuvalu and Vanuatu On behalf of His Excellency Governor David Adean of Nauru, and the Honorable Governors of the Federated States of Micronesia, Kiribati, Marshall Islands, Nauru, Palau, Samoa, Solomon Islands, Tuvalu, and Vanuatu, I am honored to deliver the 2025 Pacific Statement to the Annual Meeting of the Board of Governors. I extend warm Pacific greetings to all, and our utmost gratitude to the World Bank Group and the IMF for organizing this session. We extend our sincere gratitude to the President of the World Bank, Mr. Ajay Banga, for visiting the Pacific region this year, and taking the time to see firsthand the unique pressures and challenges we face. We greatly appreciate the platform this visit provided for our leaders to directly convey many of the key messages outlined in this statement. Call for a Robust IDA21 Replenishment The Pacific region has faced unprecedented challenges in recent years, driven by the impacts of climate change, lingering economic disruptions from the COVID-19 pandemic, and the rising cost of living due to global conflicts. In light of these persistent challenges , we strongly call for a robust replenishment of the International Development Association (IDA21) . A well-funded IDA21 is essential to support Pacific Island countries achieve sustainable development, strengthen climate resilience, and build economic stability. We welcome the World Bank’s commitment to aligning IDA21 priorities with the Pacific Islands Forum’s 2050 Strategy for the Blue Pacific Continent. This alignment includes focusing on job creation for women and youth, enhancing regional economic opportunities, and scaling up investments in climate adaptation and resilience. Climate Change and Resilience Our nations remain on the frontline of the global climate crisis. Rising sea levels, severe weather events, and changing ecosystems threaten our very existence. We reaffirm the urgency for increased support in climate mitigation and adaptation efforts. We welcome the recent enhancements in the Bank’s Crisis Response Toolkit. In particular, we are happy to see the flexibility introduced through the World Bank’s Climate Resilient Debt Clause (CRDC) and Rapid Response Option (RRO), which allow Pacific countries to defer debt service in times of crisis. These initiatives are critical for managing both shortterm emergencies and long-term financial stability. We also call on the Bank to use its international accredited entity status to global climate funds, to support Pacific countries access these funds at scale to meet resilience investment needs. Economic Development , Connectivity and Regional Integration Economic diversification and regional integration are crucial to our sustainable growth. Pacific leaders have emphasized the need for the World Bank and IMF to support initiatives that promote regional economic cooperation, especially in sectors like fisheries and sustainable tourism, which are vital to our local economies. We welcome the implementation of the East New Britain Initiative (ENBi) to enhance economic returns from fisheries resources and create more job opportunities within our communities. Regional trade facilitation is essential for unlocking the potential of our economies. We call upon the World Bank to support the Pacific Regional Trade Facilitation (PRTF) Strategy, the Pacific Regional E-Commerce Strategy (PRECS) and other aid-for-trade initiative in

FAQs

What is the main purpose of Delvin O'Neale Thoma’s statement?

To deliver the 2025 Pacific Statement to the World Bank Group Annual Meetings and convey key priorities on behalf of Pacific member economies.

Why does the statement call for a robust IDA21 replenishment?

It argues that Pacific countries face climate change impacts, COVID-19–related economic disruptions, and higher cost of living, making well-funded IDA21 essential for sustainable development, climate resilience, and economic stability.

Which climate and debt measures are highlighted in the statement?

It welcomes enhancements such as the Climate Resilient Debt Clause (CRDC) and Rapid Response Option (RRO), which allow Pacific countries to defer debt service during crises.

Jul 19, 2026

Uploaded by Valentina