Developing Asia Fastest Growing Region

Developing Asia remains the fastest growing region globally despite slower-than-expected growth in major industrial countries as key economies move ahead with structural reforms, says a new ADB report. Read More

Private Sector Engagement Boosts Performance of State-Owned Enterprises

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. Read More

A Broader View of Asian Poverty

Food insecurity and economic vulnerability should be included in a broader definition of poverty that could help policymakers develop more effective approaches, says new ADB report. Read More

Aviation Safety and Security - ADB's Take

Developing safe air transport systems and airports is a critical task for all nations. The complex work requires that small and developing countries work together to pool their resources and expertise. Read More

Overview

Despite robust growth of the fishery sector, the overall economic outlook for the Federated States of Micronesia (FSM) remains challenging, as private sector activities are yet to offset declining public investments resulting from reductions of financing from Compact grants. The FSM government and ADB are together placing particular importance on private sector development to put the economy on a higher growth path. The FSM also needs to prepare a medium-term fiscal reform plan to ensure sufficient fiscal resources upon the planned expiration of the Compact grants in fiscal year 2023.

Fast Facts

0.10 (2013)
Population in millions

0.1% (2008-2013)
Average annual population growth rate

31.4% (2005)
Population living below the national poverty line

ADB Lending

Amount ($M) / %
Sector (No. of loans)
6.50 / 7.72
Agriculture (1)
 
9.04 / 10.74
Energy (2)
 
31.02 / 36.85
Public Sector (3)
 
10.60 / 12.59
Water Supply (1)
 
27.02 / 32.10
Multisector (3)
 
84.18 / 100.00
TOTAL (10)
Cumulative as of 31 December 2013