Kiribati and ADB
In the Spotlight
ADB has approved a $3 million grant that is expected to improve fiscal sustainability in Kiribati in line with the government’s fiscal framework and the Kiribati Economic Reform Plan.
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 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 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.
Engaging the private sector through public-private partnerships and privatization improves the performance and service delivery of state-owned enterprises, according to a new report by ADB.
In line with Kiribati's national development plan, ADB's program aims to reduce poverty and promote economic opportunities in the country by improving public financial management and delivering sustainable infrastructure services.
As many of the infrastructure services are provided by state-owned enterprises, improving corporate governance arrangements and the commercial focus of these enterprises is a key objective of ADB’s support to the Kiribati government’s structural reform program.
0.11(2013) Population in millions
2.2%(2008-2013) Average annual population growth rate
21.8%(2006) Population living below the national poverty line