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p. 76 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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Vanuatu

Strategy and Policy Dialogue. Dialogue. ADB's strategy addressed the lack of consistency and transparency in government decision making; the high-cost, uncertain business environment; and the continuing lack of fiscal capacity to expand essential public services. It aimed to accelerate economic growth beyond population growth by helping to (i) build capacity for sound economic management and good governance, (ii) create an enabling environment for private sector development, and (iii) reduce poverty by improving service delivery to rural populations. The program also reflects ADB's concern for the growing disparity in economic opportunities between urban and rural dwellers with further assistance planned for technical and vocational education and development of productive rural skills.

The government gives priority to (i) improving governance and public service delivery via strengthened law enforcement and macroeconomic management, (ii) improving the lives of rural people through better access to markets and better management of natural resources, (iii) raising private investment by lowering obstacles to private enterprise, (iv) enabling greater stakeholder participation in policy formulation, and (v) increasing equity in access to services and employment opportunities.

Loans and Technical Assistance. No loans were approved, but two technical assistance grants amounting to $1.3 million were approved in 2004. These were for the development of a medium-term strategic framework and secured transactions reforms.

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