PCRIC Participates in Tonga’s National Development Summit

Nuku’alofa, Tonga — The Pacific Catastrophe Risk Insurance Company (PCRIC) was invited to  participate in Tonga’s National Development Summit conducted from 18–21 March, 2025. Opened by Prime Minister Hon. Dr. ‘Aisake Eke, the summit brought together government officials, donor partners, international agencies, and community representatives to shape Tonga’s development strategy for the coming decade.

Alongside representatives from Australia, New Zealand, China, Japan, the World Bank, and the Pacific Community PCRIC CEO, Mr. Aholotu Palu, participated in a panel discussion speaking to the theme of “Collaboration and Partnership”. The dialogue emphasised the critical role of strategic alliances in achieving Tonga’s development goals and recognised Tonga’s commitment to fostering inclusive partnerships as a key strategic element of sustainable development.

In his remarks, Mr. Palu highlighted the importance of aligning Tonga’s Development Plan with the Pacific 2050 Strategy and the UN Sustainable Development Goals (SDGs) to ensure cohesive and effective progress. He went on to  underscore the need for strong public financial management systems and adequate staff capacity to meet accountability requirements set by development partners providing essential funding.

Additionally, Mr. Palu reiterated PCRIC’s role in providing financial protection against the impact of natural disasters through risk pooling, helping Tonga build resilience against climate-related challenges.  Speaking after the event he stated that a critical role for PCRIC was to fill gaps left by traditional markets and to provide governments with a means of preserving hard-won development gains that could easily be wiped away by the financial impact of the next natural disaster.