The Ministry of Rural and Maritime Development and Disaster Management today reaffirmed its commitment to building stronger and more financially resilient rural communities through the signing of an addendum to its Memorandum of Understanding (MoU) with the Reserve Bank of Fiji (RBF).
The expanded partnership now formally includes support for parametric insurance as a key financial safety net for rural families facing climate-related disasters.
“This addendum represents an important milestone in our existing collaboration with the Reserve Bank of Fiji. It formalises our shared commitment to empowering rural communities with tools that not only protect livelihoods but also enhance financial resilience in the face of natural hazards,” said the Permanent Secretary for Rural and Maritime Development and Disaster Management Isoa Talemaibua.
Fiji’s rural and maritime communities continue to face increasing risks from climate-induced events such as cyclones, droughts and flooding. In response, parametric insurance offers a proactive solution, providing timely and reliable financial relief to affected households following severe weather events.
“This new initiative bridges a critical gap in our national disaster response framework. It complements the work of the National Disaster Risk Management Office by ensuring that families receive early financial assistance, minimising vulnerability and supporting quicker recovery," Talemaibua said.
The strengthened partnership also aims to improve awareness and access to financial services, including insurance products tailored to the needs of rural populations. This reflects the Ministry’s broader commitment to integrating climate adaptation and financial innovation into sustainable development planning, he added.
The Ministry acknowledges the leadership of the Reserve Bank of Fiji in driving forward risk financing solutions and expresses gratitude to development partners who continue to support such forward-looking interventions.
“As a Ministry, we remain dedicated to working with all stakeholders to ensure this programme reaches those who need it most — efficiently, equitably and sustainably," Talemaibua said.
