1. Theme: “DFIs' Role in Sustainable Development
“Impact of Climate Change on Sustainable Development in Small Island States”
Theme: “DFIs' Role in Sustainable Development
amidst the Economic Crisis”
Plenary Session 1:
The Economy and the DFI:
Situationer & Outlook
(Part II)
PRESENTATION
by Deve Toganivalu,
Secretary, ADFIP
CEO, Fiji Development Bank &
26 April, 2012.

3. TRADING IN THE PACIFIC Bech-de-mer Pearl Turtle shell Coconut oil
Sandalwood
Whale blubber

4. THE EARLY YEARS…

5. THE LATER YEARS…

6. ADFIP
Established in 1986
14 member countries
22 DFIs

7. PACIFIC SITUATION
Anticipated slow global growth to impact Pacific economies in 2012
Weakening tourism from source markets
Limited investment in manufacturing and processing sectors
Eligible industries
- Agriculture
- Forestry
- Marine products
- Mineral water
- Information,
Communications &
Technology
- Audio-visual

8. PACIFIC EXPORTS $4.2billion in 2011 – up by $1.2billion from 2010
Approx. 30% exported to Australia
Exports to NZ in 2011 was $82.7million – 64.3% of these was from Fiji
Service sectors for 60—70% of GDP

9. SUSTAINABLE DEVELOPMENT
“Sustainable development is
the expansion of substantive
freedoms of people today
while making reasonable
efforts to avoid seriously
compromising those of
future generations.”
UNDP Sustainable
Development Report 2011

10. THREE CORE VALUES OF DEVELOPMENT
Sustenance: The ability to meet basic needs
Self-esteem: To be a person
Freedom from servitude: To be able to choose
Michael Todaro and Stephen Smith
(2011)

11. WHAT DO FORUMS SUCH AS ADFIAP OFFER?
Opportunity to lobby for cheaper cost of funds
Alternative funding sources
Secure investors

12. IMPACT OF CLIMATE CHANGE
El Nino & La Nina
Frequency of floods and cyclones
Rising sea levels
Sea acidity

13. 2012 FIJI FLOODS
Damage estimated at 0.01% of GDP –US $ 30MM and rising
FDB agricultural clients – 55%

14. IMPACTING PACIFIC LIVELIHOODS
At risk are:
- Food security
- Communities to displacement
- Economic survival

15. CARBON EMISSONS Collectively PICTs emit < 0.2%
Equivalent to emissions from Ireland, Oman or Denmark

16. SUSTAINABLE ENERGY FINANCING
Convert up to 90% of all electricity generated from fossil fuel to renewable sources.
Fiji’s fuel importation bill -$720MM in 2009; expected to exceed $1.1 billion in 2012.
Product with FDB since May 2010.

17. CONCLUSION more resources than they require destroy the life
“Those who consume far
more resources than they
require destroy the life
chances of those whose
survival depends upon
consuming more.”
George Monbiot, author,
columnist and environmental
campaigner (2012)

18. Thank You