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

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Vanuatu

Strategy and Policy Dialogue.
Although Vanuatu has good growth prospects due to abundant natural resources and increased tourism potential, its growth was hampered by frequent shifts in policies, the high cost of doing business, and difficulties in enforcing contractual agreements. The country suffers from low adult literacy and primary and secondary school enrollment rates and from poor access to health and social services. ADB’s strategy was three-pronged: improving economic management and governance; reducing poverty; and creating an enabling environment for private sector development. In September, ADB assisted the Government in conducting a donor consultative group meeting where the priority and action agenda was presented. ADB also helped identify actions to improve the country’s weak fiscal position and will assist the Government in preparing Vanuatu’s medium-term strategic framework to improve fiscal management and capital investment programming during 2004.

In September 2003, ADB signed a PPA with the Government.

Loans and Technical Assistance.
No loans were approved. Two technical assistance projects totaling $400,000 were approved.

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