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Annual Report 2003 : Moving the Poverty Reduction Agenda Forward: Priorities and Outcomes : The Pacific

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Nauru

Since joining ADB, Nauru has received one program loan, the Fiscal and Financial Reform Program amounting to $5 million, and five technical assistance grants totaling $1.2 million. The loan was closed, and the balance was canceled on 2 October 2002 due to the Government’s noncompliance with tranche conditions. Furthermore, the reform measures agreed under the first tranche with the previous Government were reversed by the current Government making it difficult for ADB to proceed with the release of subsequent tranches. ADB does not currently have an active program with the Government. No loans or technical assistance grants were approved in 2003.

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