FIJI Development Bank (FDB) chief executive officer Filimone Waqabaca has been elected as the second vice-chairman of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP).
The ADFIAP is the focal point of all development banks and other financial institutions engaged in the financing of development in the Asia-Pacific region; and its mission is to advance sustainable development through its 97-member institutions in 42 countries.
According to ADFIAP, Mr Waqabaca has championed inclusive finance in the Pacific, with a strong focus on agriculture, SME development, and climate-resilient projects.
“His leadership ensures that the unique challenges and opportunities of Pacific island nations are represented within ADFIAP’s regional agenda,” the ADFIAP stated.
Development Bank (Oman) chief executive Hussain Al-Lawati, who has been instrumental in advancing Oman’s development finance sector, spearheading initiatives that support SME growth, infrastructure investment and sustainable financing, was elected first vice-chairman.
Together, Mr Waqabaca and Mr Al-Lawati will support the chairman and the board in advancing ADFIAP’s mission to promote sustainable development finance.
“Their election underscores the association’s commitment to inclusivity, diversity and regional balance — bringing voices from the Middle East and the Pacific to the heart of ADFIAP’s leadership.”
The executives’ election marked a historic milestone at the ADFIAP’s 100th board of directors meeting in Colombo, Sri Lanka last month. The Colombo meeting, it stated emphasised the importance of partnerships and collective action under the theme ‘Partnerships for prosperity: Unlocking regional potential’.
“With its new leadership team, ADFIAP looks forward to deepening cooperation, sharing knowledge, and unlocking opportunities for prosperity across the Asia-Pacific region and beyond.”
The FDB stated Mr Waqabaca’s appointment recognised his leadership and commitment to advancing inclusive finance, agriculture, SME development and climate-resilient initiatives across the Pacific.
“His appointment also provides an important opportunity for the perspectives, priorities and unique development needs of Pacific island nations to be represented within ADFIAP’s regional agenda,” the FDB stated.
