01 December 2025
The Pacific Islands Forum Secretariat (PIFS), in collaboration with the Reserve Bank of Fiji and the World Bank Group, will convene the Pacific Fast Payments Systems Workshop from 3–5 December 2025 in Nadi. The event forms part of the Pacific Strengthening Correspondent Banking Relationships (CBR) Project, funded under the World Bank-supported regional programme and led by the Pacific Islands Forum Secretariat.
The three-day workshop will gather central bank governors, senior finance officials, and policy leaders from across the Pacific, including from multilateral organisations and development partners.
Participants will examine global trends in fast payments, including risk management, fraud prevention, new technologies, overlay services, and cross-border interlinking.
Fast payments are rapidly transforming digital economies worldwide, with more than 120 jurisdictions now operating fast payment systems. This workshop aims to bring these global innovations to the Pacific, supporting national payment system reforms, improving cross-border payments, and strengthening financial inclusion across Forum member countries.
The workshop will also support the development on fast payments, drawing on lessons from other regions where similar World Bank–led knowledge exchanges have been held, including Europe, Central Asia, Africa, Latin America, and the Middle East.
Pacific Islands Forum Secretary General, Baron Divavesi Waqa, emphasised the importance of this regional initiative.
"Fast, secure, and affordable payments are essential to a modern Pacific economy. By strengthening our financial systems and improving the way money moves across borders, we are directly supporting families, businesses, and governments across our Blue Pacific Continent. This workshop is an opportunity for our region to learn from global best practice and chart a collective pathway toward a more connected, inclusive, and resilient financial future,” said Waqa.
The Governor of the Reserve Bank of Fiji, Mr Ariff Ali highlighted “Fast payments are not just a trend but a fundamental evolution enabling seamless payment experiences. Its significance lies in its ability to drive financial inclusion, accelerate digital transformation, enhance cross-border connectivity and foster sustainable economic development. This workshop will help us explore the latest innovations in fast payment systems, examine the regulatory landscape, discuss opportunities for adoption, challenges involved and share best practices for effective implementation.”
“We are proud to be supporting this initiative alongside the Pacific Islands Forum Secretariat and the Reserve Bank of Fiji,” said Stephen N. Ndegwa, World Bank Division Director for the North and South Pacific. “By advancing fast payment systems, we are unlocking new opportunities for financial inclusion, job creation, and economic growth throughout the Pacific. This collaboration marks a pivotal step toward a more connected and resilient region.”
This workshop represents a significant step toward strengthening regional financial systems, improving payment connectivity, and advancing the vision of the 2050 Strategy for the Blue Pacific Continent for a prosperous, resilient, and digitally enabled Pacific region.
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About the Strengthening Correspondent Banking Relationships Project:
In 2024, the Pacific Islands Forum (PIF) in collaboration with the World Bank Group and development partners launched the Pacific Strengthening CBR Project, a US$77 million initiative across 8 countries to keep cross-border banking open and resilient.
The Pacific Strengthening CBR Project became effective in April 2025. The goal of the Project is to establish a sustainable and systematic regional solution to the de-risking challenges faced by Forum Island countries.
The Project covers eight countries: Fiji, Kiribati, Republic of the Marshall Islands (RMI), Samoa, Solomon Islands, Tuvalu, Tonga, and Vanuatu. Papua New Guinea is anticipated to join the Project in early 2026.
The CBR Project has two components: (1) temporary access to correspondent banking services for critical currencies; and (2) regulatory harmonisation and an improved enabling environment.
Correspondent banking is the provision of banking services by one bank (the correspondent bank) to another bank (the respondent bank). These services are often ongoing and can include cross-border transactions, remittances, wire transfers, and foreign exchange services.
Correspondent banking relationships (CBRs) play a crucial role in supporting trade, remittances, and economic stability across the Pacific.
