Fiji Recovery and Resilience First Development Policy Operation with a Catastrophe-Deferred Drawdown Option

i) Promote private sector-led economic recovery; ii) Enhance climate, disaster and social resilience; and iii) Strengthen debt and public financial management.

Pillar 1: Promoting Private Sector-Led Economic Recovery
Results Indicator #1: The annual volume of: (i) payments made electronically through the Real- Time Gross Settlement System; and (ii) retail payments made electronically through the Automated Clearing House
Results Indicator #2: Number of outstanding corporate bond issuances
Pillar 2: Enhancing Climate, Disaster and Social Resilience
Results Indicator #3: (i) Area within the national jurisdiction legally designated as Marine Protected Areas that contribute to climate resilience; (ii) share of women in the National Ocean Policy Steering Committee
Results Indicator #4: Share of import permits for steel reinforcement material being manufactured in accordance with the revised standard, or suitable equivalent standard, provided to the Border Control Agency
Results Indicator #5: Share of the beneficiaries that are in the poorest quintile included in the poverty-targeted social assistance program
Pillar 3: Strengthening Debt and Public Financial Management
Results Indicator #6: The weighted average interest rate of total debt portfolio
Results Indicator #7: The performance indicator measuring aggregate revenue outturn in the PEFA assessment
Results Indicator #8: Number of programs across budget agencies performing gender impact assessments and collecting sex- disaggregated data for monitoring and evaluation
Results Indicator #9: Share of women in total new police recruitments

• ≥25% women on Ocean Policy Steering Committee.
• Social programs include gender-sensitive criteria.
• GRB rollout: 35 programs performing gender impact assessments.
• Women in new police recruitments ≥25%.

The Fiji Recovery and Resilience First Development Policy Operation has made significant progress across all three pillars. Private sector-led recovery was strengthened with a major increase in electronic payments through the new RTGS system, the first corporate bond issuance, and higher foreign investment commitments. Climate and disaster resilience advanced through the designation of key Marine Protected Areas, 40–50% of Jobs for Nature project activities led by women, full compliance with steel reinforcement standards, and progress on multi-hazard early warning systems. Public financial management improved with strengthened debt practices, 16 programs performing gender impact assessments, VAT reforms, and measures to increase women’s participation in police recruitment.
The Recovery and Resilience DPO series has fully delivered its policy actions and in doing so has established a solid foundation of policy reform and inter-sector coordination on which the ongoing series has been built. Very good progress has been made in advancing the three pillars of the Recovery and Resilience DPO series. The overall macroeconomic environment is largely in line with commitments made during the series. Across all three pillars, reforms supported under the DPO series have gained traction and are predominantly expected to achieve targeted results by next year. Status 08/01/2025

Commitment Amount USD 145,000,000.
• COVID-19 and Cyclone shocks addressed; reforms support recovery and resilience.

•    Strengthened national payment system (digital payments, RTGS).
•    Improved bond market infrastructure (digital platforms for corporate bonds).
•    Digital payment systems, wholesale bond issuance platforms, impact-based early warning systems.

•    Strengthened institutional capacity for debt management, GRB implementation, and social assistance targeting.
•    Training and workshops for ministry staff and steering committees.
•    Building expertise in financial management, gender-responsive budgeting, disaster resilience, and climate adaptation policy.