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p. 72 of 95 BACK | NEXT Message from the Chairman of the Board of Directors Members, Capital Stock and Voting Power The Record Abbreviations 2004 in Review: Board of Directors' Report Special Theme: The Changing Face of the Microfinance Industry: Building Financial Systems for the Poor Part 1: Institutional Effectiveness Part 2: Poverty Reduction Strategic Priorities Thematic Priorities Regional Perspectives East and Central Asia Mekong The Pacific Cook Islands Fiji Islands Kiribati Marshall Islands Micronesia, Federated States of Nauru Palau Papua New Guinea Samoa Solomon Islands Timor-Leste Tonga Tuvalu Vanuatu South Asia Southeast Asia Part 3: Financial Statements: Management's Discussion and Analysis

Annual Report 2004 : Part 2: Poverty Reduction : The Pacific

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Solomon Islands

Strategy and Policy Dialogue. The country strategy's overarching goal was rapid, pro-poor, private sector-led economic growth. In support of the government's national economic recovery, reform, and development plan for 2003– 2006, ADB will provide transportation infrastructure and services and strengthen the enabling environment for the private sector. To address these objectives, ADB will focus on building capacity and on promoting good governance. Key strategies for overcoming the constraints in the business environment include regulatory reforms; development of transport infrastructure and services particularly in aviation and shipping; reforming state-owned enterprises; financial sector reforms including the collateral framework; provision of policy and governance advice to provincial governments; development of statistics to inform policy formulation, monitoring, and evaluation; and formulation of sector policies to promote investment and growth. The improvement of interisland transportation and reforms of the state-owned enterprise sector are priority pillars of ADB's medium-term operational assistance portfolio and policy dialogue. Solomon Islands will be able to access the ADF IX grant facility as a result of its classification as a poor, postconflict country.

Loans and Technical Assistance. In 2004, no loans were approved. ADB approved three technical assistance grants amounting to $1.9 million of which $650,000 came from the Government of Australia. These were for state-owned enterprise reforms and private sector participation, institutional strengthening of the ministry of infrastructure and development, and diagnostic assessment of inter-island transport.

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