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 – Private Sector Recovery:
National Payment System Bill 2020 enacted; new legal framework for payments.
Companies (Wholesale Corporate Bonds) Regulations 2021 approved.
Platform for wholesale corporate bonds and improved access to financing.
Pillar 2 – Climate, Disaster & Social Resilience:
5% of national area legally designated as Marine Protected Areas (MPAs).
At least 25% of Ocean Policy Steering Committee members are women.
Steel reinforcement materials meet revised standards.
Social Assistance Policy implemented; poorest quintile coverage ≥35%.
Multi-hazard early warning implementation plan in place.
Social programs include gender-sensitive and disaster-responsive criteria.
Pillar 3 – Debt & Public Financial Management:
Medium-Term Debt Management Strategy FY2021-2023 implemented.
PEFA revenue outturn improved D → C.
35 programs across ministries perform gender impact assessments (GRB).
Women in new police recruitments ≥25%.
VAT reforms and film rebate adjustments improving fiscal management.

• ≥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.

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.