Minister for National Planning and Development Coordination Hon. Rexon Ramofafia, held a high-level meeting with visiting Asian Development Bank (ADB) Board Members to discuss key national development priorities and ongoing collaborations.
During a meeting with the ADB team on Wednesday, 26 February, discussions reaffirmed the strong partnership between the Solomon Islands and ADB in advancing sustainable economic growth and infrastructure development.
Minister Ramofafia acknowledged ADB’s long-standing support for the Solomon Islands and took the opportunity to advocate for further development assistance, particularly for the Bina Harbour Project.
He emphasized the government’s commitment to advancing critical infrastructure projects that will enhance economic opportunities and connectivity across the country.
Discussions also focused on the Land and Maritime Connectivity Project (LMCP), with ADB providing an update on its phased implementation approach. ADB reaffirmed its commitment to establishing a project facility and leveraging lessons from earlier phases to strengthen institutional capacity within relevant authorities.
Minister Ramofafia stressed the need for timely and cost-effective implementation of critical national projects to maximize development impact, and the government’s commitment to integrating climate resilience into infrastructure planning and development.
The discussion also touched on the performance of State-Owned Enterprises (SOEs), with the Minister acknowledging ongoing challenges in service delivery, regulatory frameworks, governance, and implementation capacity. Strengthening SOEs remains a priority for enhancing national economic performance, it was noted.
ADB reaffirmed its continued support for the National Transport Fund in collaboration with Australia and other partners, ensuring sustained investment in the country’s transport infrastructure.
In a positive development, ADB highlighted the latest IMF report, which indicates that the Solomon Islands has improved its financial risk rating from moderate to low – a testament to the country’s progress in economic stability and fiscal management.
The MNPDC remains committed to working closely with ADB and other development partners to drive transformative projects that will enhance the Solomon Islands’ economic resilience and long-term growth.
