PRESS RELEASE
2025 World Bank–IMF Annual Meetings | 15 October 2025, Washington, D.C.
On the third day of the 2025 World Bank–IMF Annual Meetings, the Prime Minister of the Kingdom of Tonga, Hon. Dr. ‘Aisake Valu Eke, met with Mr. Carlos Felipe Jaramillo, World Bank Vice President for East Asia and the Pacific.
Prime Minister Eke congratulated Vice President Jaramillo on his appointment and expressed his confidence in the continued strong partnership between Tonga and the World Bank, which has spanned more than 50 years. The Prime Minister conveyed his deep appreciation for the World Bank’s longstanding support, which has played a vital role in Tonga’s development journey.
The bilateral meeting focused on the World Bank’s current portfolio in Tonga and areas where further support would be most beneficial. Prime Minister Eke highlighted the recent successful completion of the 2025 Country Portfolio Performance Review (CPPR) for World Bank–funded projects in Tonga, undertaken earlier this month. He noted that the CPPR serves as an important step in identifying ways to improve project implementation and strengthen development impact.
The Prime Minister emphasized Tonga’s priority to channel investments into high-impact projects that can stimulate economic growth. He underscored the importance of developing the fisheries sector, noting that targeted infrastructure investments under the Fisheries Sector Plan could generate wide-ranging benefits, including reduced fish prices, expanded trade opportunities, and increased employment for local fishermen—while also contributing to improved national health outcomes. Prime Minister Eke further highlighted the need for continued support in tourism infrastructure development, and specifically thanking the Bank for the financial support in securing $40 million for the Tonga SECURED Project (Lagoon Bridge), recognizing it as another key driver of sustainable growth.
In closing, Prime Minister Eke reaffirmed Tonga’s commitment to regional collaboration and drew attention to the Pacific Insurance and Climate Risk Initiative (PICRIC) as a key instrument for enhancing climate resilience and financial preparedness. He encouraged the World Bank to work closely with PICRIC on potential areas of cooperation, particularly in the development of parametric insurance solutions for the Pacific region.
This engagement underscores Tonga’s commitment to deepening partnerships with multilateral development institutions to strengthen economic resilience, climate preparedness, and inclusive growth. It also reinforces Tonga’s strategic efforts to ensure that global financial and development frameworks continue to support the unique needs and aspirations of small island developing states.
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