Developing Asia To Extend Steady Growth in 2014

Higher demand from recovering advanced economies will be dampened somewhat by moderating growth in the PRC, says new ADB report. Read More

Pacific Growth to Pick Up in 2014

Economic growth in the Pacific is projected to rise to 5.4% in 2014 from 4.8% in 2013, according to ADB's latest Asian Development Outlook 2014, launched in Sydney. Read More

Middle-income Trap Holds Back Asia's Potential New Tiger Economies

Moving from a low-cost to a high-value economy requires innovative companies, an improved education system, and government incentives. Read More

Investing in the Pacific Transport Sector

Pacific Transport Update 2013: Island countries in the Pacific region need a strong transport sector to support economic growth. Read More

Overview

The Federated States of Micronesia (FSM) updated its development framework in 2012, which seeks to establish a clear path of increasing fiscal and socioeconomic self-reliance. The development framework will be made operational through the Action Plan 2023 to be developed by the end of 2014.

ADB’s country operations business plan, 2014-2016, has been formulated to reflect FSM’s development strategy.

Fast Facts

0.10 (2012)
Population in millions

-0.4% (2010-2012)
Annual population growth rate

29.9% (2005)
Population living below the national poverty line

ADB Lending

Amount ($M) / %
Sector (No. of loans)
6.50 / 8.65
Agriculture (1)
 
31.02 / 41.28
Public Sector (3)
 
10.60 / 14.11
Water Supply (1)
 
27.02 / 35.96
Multisector (3)
 
75.14 / 100.00
TOTAL (8)
Cumulative as of 31 December 2012