Kiribati and ADB
In the Spotlight
A fiscal surplus equivalent to 27.6% of GDP is forecast for Kiribati in 2015 as fishing license revenues continue to rise. Download the latest Pacific Economic Monitor
ADB supports Kiribati’s structural reform program, which aims to improve corporate governance and the commercial focus of state-owned enterprises. A new infrastructure programs for the country and a closer partnership with the European Union in Kiritimati Island are also part of the 2016-2018 Kiribati Operations Business Plan.
ADB’s interventions in the Pacific should help countries reduce the high cost of doing business and providing services, develop capacity to manage risks from economic shocks, natural disasters, and climate change, as well as promote the creation of competitive high value-added goods and services.
For almost half a century, ADB has been partnering with Pacific developing countries to help them grow and prosper. ADB has scaled up its assistance in the Pacific to more than $2 billion by the end of 2014 from about $500 million in 2004. The vast majority of this support goes into building infrastructure.
While the Republic of Kiribati has sustained several consecutive years of positive economic growth, driven by donor projects and increased activity in the private sector, the country faces many challenges typical of small island economies. Geographic isolation, limited human and financial resources, a narrow economic base, and underdeveloped markets all contribute to the country’s vulnerability to external economic shocks. The Government of Kiribati relies heavily on income earned from external sources, including its trust fund, to finance high budget deficits. Maintaining fiscal sustainability is the government’s key priority, and close collaboration with development partners is essential to achieving stable growth.
With the broad objective of the Kiribati Development Plan, 2012-2015 focusing on generating economic growth for sustainable development, the ADB program in Kiribati aims to reduce poverty and promote economic opportunity. These goals can be achieved by improving public financial management and delivering sustainable infrastructure services.
Projects in Kiribati
No projects in this category were found.
- Road Rehabilitation Project - Additional Financing
- Enhancing Economic Competitiveness through State-Owned Enterprise Reform
- South Tarawa Sanitation Improvement Sector Project (formerly Tarawa Sanitation Improvement Project)
- Road Rehabilitation Project
- Sanitation, Public Health, and Environment Improvement
0.11(2014) Population in millions
2.2%(2009-2014) Average annual population growth rate
21.8%* Population living below the national poverty line (*Preliminary/interim figure; or refers to period before 2009.)