Japan Ministry of Finance has published the co-chairs' summary of the 3rd Japan-Pacific Islands Finance Ministers' Meeting in Samarkand, showing agreement to deepen cooperation with 13 Pacific Island Countries on cross-border payments, disaster risk financing, domestic resource mobilization and broader economic resilience. The summary also records Pacific ministers' support for Japan's Partnership for Strengthening Energy and Resource Resilience in Asia, which provides about USD 10 billion in financial cooperation for emergency and structural responses. On payments, the meeting backed work on a Pacific Payment Mechanism under the World Bank's correspondent banking relationship project, including guiding principles proposed by Australia, Japan, New Zealand and the United States covering function-led design, an options-open assessment, a minimum viable product, complementarity with private-sector solutions, robust governance and self-sustainability. The summary also highlights Japan's support through the World Bank and International Monetary Fund to maintain correspondent banking relationships, its role as co-chair of the Asia-Pacific Group on Money Laundering in advancing anti-money laundering, countering the financing of terrorism and countering proliferation financing reforms, and its contribution to International Monetary Fund analytical work on digital money ecosystems, including central bank digital currencies and cross-border payments. On disaster risk financing, Japan has launched a pilot Climate Resilient Debt Clause for new official development assistance loans, and the summary notes a planned Solomon Islands loan that would be the first to include the clause. It also records Japan's contribution to the Asian Development Bank's Pacific Pre-arranged Resources for Enhancing Preparedness And Resilience trust fund, support for tax and customs capacity building, and agreement to hold the next meeting in Nagoya in 2027 during the Asian Development Bank's 60th annual meeting.
Ministry of Finance (Japan) 2026-05-04
Japan Ministry of Finance publishes Pacific Islands finance ministers summary backing payment mechanism work and first climate resilient ODA loan for Solomon Islands
Japan’s Ministry of Finance released the co-chairs’ summary of the 3rd Japan–Pacific Islands Finance Ministers’ Meeting, noting agreement with 13 Pacific Island Countries to deepen cooperation on cross-border payments, disaster risk financing, domestic resource mobilization, and economic resilience, and support for Japan’s USD 10 billion Partnership for Strengthening Energy and Resource Resilience in Asia. Ministers backed work on a Pacific Payment Mechanism under the World Bank’s correspondent banking project and Japan’s support for maintaining correspondent banking relationships, strengthening AML/CFT and counter-proliferation financing, and contributing to IMF work on digital money. The summary also highlights Japan’s pilot Climate Resilient Debt Clause in new ODA loans, a planned Solomon Islands loan as the first to use it, and contributions to ADB’s Pacific PREPARE trust fund and tax and customs capacity building.