World Bank Focuses On Jobs And Economic Resilience In The Pacific

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6 days ago

Press Release – World Bank Group
Ms. Bjerde also announced new reforms to the World Banks procurement framework that require companies bidding on international civil works contractssuch as the construction and maintenance of transportation and energy infrastructureto ensure …
SYDNEY, August 1, 2025 —The World Bank's Managing Director of Operations Anna Bjerde has concluded a week-long visit to Fiji, Papua New Guinea, and Australia focused on delivering new approaches to job creation and economic resilience, and faster, more impactful development solutions.
Ms. Bjerde also announced new reforms to the World Bank's procurement framework that require companies bidding on international civil works contracts—such as the construction and maintenance of transportation and energy infrastructure—to ensure that 30 percent of labor cost is local.
'The World Bank Group is proud to support the people of the Pacific with solutions that address development challenges in the region, with jobs at the center—giving young people the chance to shape their own future,' said Ms. Bjerde. 'We see the effects of slowing growth, climate shocks, and global policy uncertainty, but Pacific nations are pioneering regional initiatives and investing in the foundations for jobs and inclusive growth.'
In Fiji, Ms. Bjerde attended the Pacific Islands Forum Economic Ministers Meeting where she emphasised the importance of smaller Pacific nations' connectivity to international financial institutions. The World Bank is supporting a regional correspondent banking project that is already active in eight nations with additional countries planning to join.
In Papua New Guinea, Ms. Bjerde met with Prime Minister Hon. James Marape and visited young people supported by an urban youth employment project to build skills and contribute to their communities. 'Supporting inclusive job creation, especially for young people, is key to Papua New Guinea's development and is central to the World Bank Group's approach to promoting prosperity,' she said.
Ms. Bjerde's visit also highlighted the World Bank Group's growing Pacific presence, including new director-level positions in Suva and Port Moresby and a significant increase in technical specialists across the Pacific, bringing global expertise and support closer to Pacific governments.
The World Bank Group has scaled up its operations in Papua New Guinea and the Pacific more than seven-fold over the past 12 years, with 86 active operations totaling US$3.4 billion in commitments. In fiscal year 2025, around half of the Bank's Pacific investment was climate financing, with a focus on building resilience and durable solutions.
Ms. Bjerde concluded her visit in Australia where she met with senior government officials and development partners, and discussed deepening cooperation in the Pacific and Australia's critical support to the region and to IDA, a part of the World Bank Group that provides concessional funds to Papua New Guinea and most Pacific Island countries.