Washington D.C. – The Minister of Finance and Treasury, Hon. Rexson Ramofafia and his delegation concluded a week-long engagement with the top management of the IMF and World Bank Group in Washington D.C last week.
The meetings culminated in a bilateral discussion with the World Bank Group Vice President for East Asia and the Pacific, Mr Felipe Jaramillo, pictured above.
Minister Ramofafia stated that the new direction for the World Bank support to Solomon Islands focuses on transformative economic infrastructure projects, such as roads and bridges, to create jobs and stimulate economic growth.
He emphasised the need for targeted investments to achieve tangible impact.
“All World Bank-funded programs must be targeted towards transformative economic infrastructures like roads, bridges, and not to spread thinly in various areas or sectors,” Ramofafia said.
“This is to ensure transformative tangible impact, create jobs and stimulate economic growth,” Ramofafia said, while expressing gratitude that the Vice President also held the same view of this position.
The Minister highlighted three key priorities for the Solomon Islands, including (a) meeting the Solomon Islands National Development Strategy targets, (b) preparing for graduation from the LDC status, and (c) celebrating 50 years of independence in 2028.
He urged the World Bank to align its investments with these policy directions.
Key outcomes of Minister Ramofafia’s engagements include:
The Minister and his delegation departed Washington, D.C. on Sunday, October 19.
