Cook Islands and ADB
In the Spotlight
The Cook Islands’ dependence on fossil fuels will be reduced under a project to build solar-powered plants on six of its islands, funded by ADB, the European Union, and the Government of Cook Islands.
ADB-wide sovereign approvals in the Pacific has risen substantially since 2010, reaching almost $1.8 billion in 2013. ADB is assessing and updating the Pacific Approach, which will continue to guide its operations in the region.
The Pacific region is benefitting from stronger links with Asia’s growing economies, and can gain more with targeted policy reforms and investments, according to ADB's Pacific Economic Monitor.
The growth outlook for developing Asia and the Pacific remains steady, even though momentum slowed in the second half of 2014, but the declining oil prices represent a golden opportunity for many beneficial reforms, ADB says in a new report.
The Cook Islands is one of the best performing Pacific island economies. The country enjoys a high standard of health care and education and is well on track to achieving the Millennium Development Goals by 2015.
ADB will support national outcomes related to economic development, social development, environmental integrity, infrastructure, and good governance and partnership. Future assistance will focus on building sustainable capacity for sound economic and public sector management, promoting economic growth by financing environmentally sustainable infrastructure, and developing the private sector.
0.02(2013) Population in millions
-3.2%(2008-2013) Average annual population growth
28.4%(2006) Population living below the national poverty line