A new six-year partnership between the World Bank and Solomon Islands aims to improve connectivity, lower business costs and create jobs, with a strong focus on energy, governance and private sector-led growth.
The World Bank Group has unveiled a new six-year Country Partnership Framework for Solomon Islands, setting out its development priorities through 2031 and placing job creation and economic growth at the centre of its engagement with the country.
The programme is designed to support the government’s efforts to build a more diversified economy by improving connectivity, expanding access to affordable and reliable energy, and strengthening economic governance. The World Bank said these measures would help create a more favourable environment for private sector investment and employment.
World Bank Country Representative for Solomon Islands Bernard Harborne said the country had clear opportunities to build a more diverse and job-rich economy.
“This partnership focuses on targeted, practical investments and reforms that can help connect people to opportunity, lower costs for businesses and support private sector growth,” he said.
A major component of the framework is the expansion of affordable and reliable electricity. Energy costs remain one of the biggest constraints on business activity in Solomon Islands, particularly outside Honiara. The World Bank said it would continue supporting projects such as the Tina River Hydropower Development Project while looking at additional investments to improve energy access and reliability.
The partnership also places emphasis on improving transport and digital connectivity. Better infrastructure is expected to reduce logistics costs for businesses and improve access to domestic and international markets.
Economic governance reforms will form another pillar of the programme. These are intended to strengthen public financial management, improve the investment climate and help create conditions that encourage private sector growth.
The World Bank said resilience to external shocks, including natural disasters and global economic disruptions, would be integrated across all aspects of the framework. Solomon Islands remains highly vulnerable to climate events and supply chain disruptions that can affect growth and business confidence.
The new framework aligns with both Solomon Islands Government priorities and the World Bank’s broader Small States Strategy, which seeks to tailor development assistance to the unique challenges faced by smaller island economies.
