Page 28 - IB MAR 2019

Opinion Opinion

Traditional dancers from Fiji perform at the 51st ADB Annual Meeting. Photo: Richard De Guzman | ADB

Nakao’s Whirlwind Visit a of all the 13 Pacific Island Countries ADB members, Samoa is the
only foundation member with effect from 1966.
Fiji’s first ever hosting of an ADB Governors’ Annual Meeting
Timely Reminder in early May this year will be a historical first for Fiji, an ADB
member since 1970. But it will also be strategic from ADB’s per-
spective. It is underpinning ADB’s geostrategic focus for the future
to the Pacific Ocean that has been brought to greater prominence
by the declaration of an over-arching Indo-Pacific by the Quad
members, including Australia. Such prominence is of unprec-
edented interest in that the Pacific Islands Forum has responded
with its Blue Pacific narrative to drive its ‘strategic autonomy’,
its geostrategy in the context of a larger political construct that
By Ambassador Kaliopate Tavola has totally encircled the region and beyond.
IN a recent whirlwind visit to Samoa and Fiji, ADB President, Once scaled up, the Samoa country office will bring the total of
Takehiko Nakao signed several important agreements, including all country offices in the region to eleven. These will supplement
one that scaled up the status of the Samoa office from an extended the ADB operations carried out by the resident mission in Papua
mission to a country office. He also met dignitaries, held media New Guinea, by the Pacific sub-regional office in Fiji and by the
conferences in both capitals, visited ADB projects outside of Apia Pacific Liaison and Coordination office in Australia.
and visited Denarau and Natadola along Fiji’s Coral Coast, the The media release for Nakao’s visit gave an insight of what
sites of the ADB Board of Governors’ 52nd Annual Meeting in ADB has in prospect for the immediate future. “Across the Pacific
the first week of May later this year. region, ADB is significantly scaling up financing to help develop-
Nakao’s visit came in the aftermath of the various announce- ing member countries achieve sustainable economic and social
ments of packages of (mainly infrastructure) funding from development, while strengthening climate and disaster resilience.
Australia. It was thus an excellent reminder to all concerned that The volume of ADB active projects in the Pacific has doubled
when it comes to infrastructure funding and more, ADB has a every five years since 2005 and exceeded $3 billion as of the
long-proven record in the Pacific. The bank has been operating end of 2018. The volume of active ADB’s projects in the Pacific
for more than half a century and is not likely to be giving up its is expected to surpass $4 billion by 2020.”
prominent regional role to any Johnny-come-lately. With that expansionary scenario, expectations of each member
Nakao’s visit was strategic in its timing. Strategic in that the country will be consequently heightened and increased engage-
visit was aimed at consolidating ADB’s long-term position as a ment with the Bank will ensue. If the ADB-Fiji partnership for
regional development bank that has ably proven its existence and immediate financing is any indication, it can be expected that
services. The visits to Samoa and Fiji achieved their respective for each member country, the volume and types of financing will
aims of re-enforcing the bank’s long-term aim. increase, and sectorial coverage will widen, including lending to
The scaling up of the Apia office from an extended mission the private sector. Furthermore, all investment requirements for
to a country office is indicative of what ADB is proposing to do climate change and disaster-resilient infrastructure assets will
with three other extended missions in Solomon Islands, Tonga be an essential element for any country member entitlement.
and Vanuatu. Such upgrades reflect the volume and complexity In such a situation, especially in the context of increased infra-
of ADB’s lending businesses in those countries. For Samoa in structure funding from other sources, ADB’s strategic approach
particular, the up-scaling of its office has a symbolic significance: would, by necessity, tend toward increased concessionality. As

28 Islands Business, March 2019