Delivered by the Pacific Islands Forum Secretary General, Baron Divavesi Waqa at the Pacific Resilience Facility (PRF) Partners Roundtable Talanoa.
IMF Committee Room, HQ1-12-184
3.30pm-4.30pm, Wednesday 15 October 2025
Washington D.C.
The Honourable Minister of Finance for Solomon Islands, Rexon Ramofafia, incoming Chair of the Forum Economic Ministers Meeting and representative of the Pacific Islands Forum Chair
Esteemed Forum Leaders
Deputy Managing Director of the International Monetary Fund, Mr. Bo Li
Honourable Finance Ministers
Excellencies
Senior Officials
Multilateral Development Partners
Distinguished Guests
Ladies and Gentlemen
Warm Pacific Greetings to you all.
It is my honour to greet and welcome you to our Pacific Resilience Facility Partners Roundtable Talanoa.
As we gather here for the first Pacific Resilience Facility Talanoa between our Forum Members and Partners in the headquarters of the International Monetary Fund, I am reminded of the fundamental principles upon which the IMF was founded – to reconstruct from the ravages of war and economic depression, an international monetary system that will foster global monetary cooperation, secure financial stability and facilitate sustainable development.
The creation of the Pacific Resilience Facility represents our clear and mutual determination and commitment to fortify our Blue Pacific region from the grave, irreversible and existential threats of climate change, guided by our 2050 vision for a resilient Blue Pacific Region and rooted in our collective and united desire to survive and thrive in a 1.5-degree world.
The creation of the PRF whilst borne a decade ago out of our Leaders frustration with our access to global climate finance, is now coming at a time when multilateralism is being challenged and reshaped by a changing world.
The Pacific Resilience Facility is our response, for the Pacific, by the Pacific, to establish the first International Financial Institution to be collectively owned by Pacific Governments.
The PRF represents what a responsive and inclusive global financial system will need to consider to emerge from adversity with a genuine transformation mandate that recognises the unique vulnerabilities and development aspirations of Forum Member Countries and leaves no one behind.
This is the essence of the test of multilateralism, whether it works for those who need it the most.
For never before, has so much wealth and capital been created by the world, but so unevenly distributed and scarcely available for those who not only need it the most but who also need it urgently as we battle a changing climate we cannot control.
Our PRF Talanoa at this Annual Meeting demonstrates our Forum Leaders’ political resolve and collective solidarity to ensure that the voices of Pacific communities are heard and that our priorities are embedded in the review of the global financial architecture as we consider the next iteration of Bretton Woods.
In solidarity, we are pleased to convey that our Forum Leaders have signed the Agreement to Establish the Pacific Resilience Facility at the 54th Pacific Islands Forum Leaders Meeting in Solomon Islands.
Two weeks ago, the Chair of the Pacific Islands Forum, Hon. Jeremiah Manele, the Prime Minister of Solomon Islands launched the PRF Capitalisation Memorandum on the margins of the 80th Session of the United Nations General Assembly.
We wish to acknowledge the Pacific’s partners that have contributed to and pledged US$166 million to the Facility to date. We warmly welcome the continued support of the international community for this first Pacific-led, owned, and managed financing facility dedicated to climate and disaster resilience for communities in our region.
As the depository for the PRF Treaty, I am pleased to confirm the receipt of the first two instruments of ratification deposited by the host of the Facility, the Kingdom of Tonga and the Government of Nauru.
I assure you of our full support and attention for the Treaty’s safe passage to ratification, as we work with our members to bring it into force.
Excellencies, it will require transformative partnerships that go beyond status quo to establish the PRF together as a historical and catalytic institution for communities at the front line of climate change.
The PRF will be that beacon of hope for our present and future generations.
I thank you.
[ENDS]
*Check against delivery
