Marshall Islands and ADB
In the Spotlight
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.
A refurbished power generator converted to use biofuel from coconut promises to improve energy supply in the Marshall Islands' atoll of Majuro, lightening up the lives of low-income families.
Stakeholder participation and partnerships are vital to a successful development program in the Republic of the Marshall Islands. ADB and the Marshall Islands have implemented a number of public consultation programs since the mid-1990s. These programs have given the government, civil society, and development partners an opportunity to discuss fiscal and economic reform and development issues. Major findings were reflected in the design of ADB’s policy-based loan in 2010 and in the development of ADB’s country operations business plans (COBPs).
COBP, 2014-2016, has three areas of strategic focus supporting the country's medium-term development: macroeconomic and fiscal management, human capacity development, and infrastructure development.