Prime Minister Rabuka meets with U.S. Secretary of Defense Lloyd J. Austin III
24/11/2024
Engagement of honorary consuls in diplomatic function
26/11/2024Published On: 26/11/2024
On behalf of Fiji, His Excellency, Amena Yauvoli, Fiji’s Ambassador to Indonesia, signed the Articles of Agreement (AoA) of the G20 Global Blended Finance Alliance (GBFA), on Thursday (21/11) at the margins of COP29, in the presence of senior Indonesian Government officials in Baku, Azerbaijan. The GBFA is an international platform earmarked for bridging the financing gap of Sustainable Development Goals (SDGs) and climate action in the developing world.
Developing economies, particularly the Least Developing Countries and Small Island Developing States (SIDS), are confronted with a staggering annual financial gap of USD 3-5 trillion for climate action and SDGs. This funding gap calls for stronger efforts to enhance financial investments, implement innovative funding mechanisms, secure commitments from various governments, private sector and philanthropists.
The GBFA was set up during Indonesia’s Presidency of the G20 in 2022 and was endorsed by the G20 as a riposte to the growing need for a South-led financing platform on SDGs and climate action.
Fiji, through our Embassy in Jakarta, participated for the first time in the G20 meetings in 2022 and remained involved in strategic engagements of the GBFA – from deliberations, negotiations and to the finalisations of the AoA.
The signing of the Articles, earlier endorsed by the Hon. Prime Minister and Minister of Foreign Affairs, and Cabinet, concludes a rigorous passage of preparations and national consultations that enabled Fiji, as one of nine founding members (three representatives from G20 countries, financial hubs, island countries and African countries), to become a participating member and beneficiary of the GBFA. The Secretariat of the GBFA, an international organization, is domiciled in Bali, Indonesia.
Going forward, Fiji’s engagement in the GBFA, will be led by the Ministry of Foreign Affairs (MFA), including the programming of the fund which will begin in early 2025. On the latter, a consultative platform will be set up by the MFA to ensure that thorough consultations involving all sectors of Government and the public provide views and inputs into our strategic prioritisation pertaining to the GBFA.
On behalf of Fiji’s Prime Minister and Minister of Foreign Affairs, the Hon. Sitiveni Rabuka, Ambassador Yauvoli, expressed the Government of Fiji’s gratitude to the Republic of Indonesia, for its leadership in the GBFA initiative. Ambassador Yauvoli noted that the GBFA is going to make a positive impact at a larger scale with innovative financing in the developing world’s sustainable development and climate actions, particularly those sectors that may miss mainline climate finance to augment Fiji’s long term sustainable development goals.
This development opportunity further enhances the two countries relations which has already been amplified through educational, and cultural, professional exchanges and development assistance. The World Giving Index 2024 announced Indonesia as the world’s most generous country for the seventh consecutive year despite persistent global economic and humanitarian challenges.
