World Bank Expands Pacific Push to Boost Jobs, Investment

The World Bank Group says its Pacific initiatives reflect a broader effort to address the global employment challenge facing developing countries.

The World Bank Group is intensifying its engagement with Pacific Island nations to strengthen economic resilience, accelerate job creation, and unlock private investment through a series of new strategic initiatives announced during a high-level regional mission.

A senior delegation led by World Bank Vice President for East Asia and the Pacific Felipe Jaramillo, IFC Regional Vice President for Asia and the Pacific Sarvesh Suri, and World Bank Vice President for Operations Policy and Country Services Gallina Vincelette visited Fiji, Papua New Guinea, Australia, and New Zealand to launch development programs and deepen collaboration with governments and private sector partners.

The visit underscores the World Bank Group’s broader strategy to transform economic growth into sustainable local employment across developing economies.

Papua New Guinea launches agriculture plan targeting one million jobs

In Goroka, the delegation joined Prime Minister James Marape to mark the launch of Papua New Guinea’s National Agriculture Sector Plan 2024–2033, a long-term roadmap aimed at transforming agriculture into a modern and commercially competitive sector.

The plan targets one million new jobs by 2033, positioning agriculture as a central pillar of economic growth in a country where the sector supports the livelihoods of the majority of rural households.

The initiative forms part of the World Bank Group’s global AgriConnect program, which focuses on improving agricultural productivity, strengthening supply chains, and expanding market access for farmers and agribusinesses.

Officials say the program will help unlock investment in agricultural processing, logistics, and rural infrastructure while enabling smallholders to participate in higher-value markets.

Fiji introduces strategy to strengthen small island economies

During its visit to Fiji, the World Bank Group unveiled its new Small States Strategy, designed to address the structural vulnerabilities faced by small island economies such as geographic isolation, climate risks, and limited economic diversification.

The strategy focuses on three core priorities:

• Creating sustainable jobs

• Building climate resilience

• Encouraging private sector-led economic growth

As part of this effort, the International Finance Corporation (IFC) announced a partnership with Fiji’s BRED Bank to expand financing for small and medium enterprises (SMEs)—a key driver of employment across Pacific economies.

The delegation also signed a Grant Facility for Project Preparation agreement to support Fiji’s transition toward cleaner and more sustainable energy systems, helping prepare renewable energy projects that can attract international investment.

Tourism infrastructure upgrades support regional growth

In Vanua Levu, the delegation reviewed ongoing projects aimed at strengthening tourism as a major engine of economic growth and job creation.

Key investments include upgrades to Savusavu and Labasa airports, which are expected to improve regional connectivity and boost tourism activity in northern Fiji.

Tourism is one of the Pacific region’s largest economic sectors, supporting thousands of jobs in hospitality, transport, and local services.

Improved airport infrastructure is expected to increase visitor arrivals, stimulate local businesses, and expand employment opportunities for surrounding communities.

Procurement reforms open global business opportunities

The mission also included meetings in Australia and New Zealand, where the delegation engaged government officials and business leaders on new procurement reforms within World Bank-financed projects.

These reforms aim to expand opportunities for both domestic and international companies to compete for development contracts while ensuring stronger participation from local workers and suppliers.

The approach is intended to improve project efficiency while strengthening the economic impact of development investments.

A global strategy centered on jobs

The World Bank Group says its Pacific initiatives reflect a broader effort to address the global employment challenge facing developing countries.

Over the next 10 to 15 years, around 1.2 billion young people in developing economies will reach working age, yet only about 400 million jobs are expected to be created under current trends.

To narrow this gap, the institution is prioritizing investments in sectors with the highest potential to generate employment:

• Infrastructure and energy

• Agribusiness

• Primary healthcare

• Tourism

• Value-added manufacturing

By investing in both physical infrastructure and human capital while improving the business environment, the World Bank Group aims to mobilize private capital and support sustainable economic growth across emerging markets.

Officials say the Pacific initiatives demonstrate how targeted investments in agriculture, tourism, and small businesses can transform economic potential into real job opportunities for local communities.