SUVA (FIJI GOVT)—Fijian Prime Minister Sitiveni Rabuka has called for urgent reforms to the global financial system to better support vulnerable nations, particularly Small Island Developing States (SIDS), in achieving the Sustainable Development Goals (SDGs).
Speaking at the Biennial Summit for a Sustainable, Inclusive and Resilient Global Economy at the margins of UNGA80, Prime Minister Rabuka highlighted the USD$4 trillion financing gap faced by developing countries and the added burden of climate change and frequent natural disasters on Fiji’s economy.
He stressed that building sustainable and resilient economies requires greater investment in infrastructure, health, and education.
“Our plight is urgent. We need a financial system that is cognizant of our reality,”
The Prime Minister called on international financial institutions to adopt the Multi-dimensional Vulnerability Index (MVI) in assessing challenges faced by SIDS and urged leaders to implement the Seville Compromise to close the funding gap.
“As we march into the final quarter of the 2030 Agenda, we must scale up efforts to meet our commitments, especially for nations in special situations like SIDS,” Prime Minister Rabuka concluded…PACNEWS