It was not a matter of lifting the funding but of getting a significant lift in results from the current funding.
"We have to get out of the 'business as usual' mode and get serious about tackling the issues that have attracted a good deal of talk at regional meetings in the past but too little action."
Mr McCully cited three "drivers" of economic development in the region that should be pursued further - tourism, fisheries and agriculture.
And he identified three "enablers" that would help economic development - improvements in energy, infrastructure and education.
He also highlighted some startling education statistics: a million school children around the Pacific do not go to school at all; about 40 per cent of schoolchildren in Pacific Island countries do not complete a basic primary education; only 20 per cent graduate from secondary school.
BARRIERS
Energy costs: Many Pacific countries are still close to 100 per cent dependent on costly fossil fuel for power generation.
Infrastructure: Lack of investment in wharves, airports, roads and internet capability.
Education: A million school-age children around the Pacific do not go to school at all and around 40 per cent of children in Pacific Island countries don't finish primary school.