Federated States of Micronesia and ADB
In the Spotlight
Get the latest statistical data on poverty and socioeconomic development in the Federated States of Micronesia and compare poverty indicators among countries in the Pacific.
A new Asian Development Bank report says Pacific economies face lower growth and tighter fiscal conditions this year due to low commodity prices and severe cyclones.
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.
The country brief summarizes how the partnership between the Government of the Federated States of Micronesia and ADB has contributed to the development of the country.
Having been devastated by typhoons in 2015, and with a stagnating economy, the Federated States of Micronesia (FSM) faces significant development challenges.
While its fisheries subsector has seen robust growth, private sector activities have been unable to offset the decline in public investment resulting from a reduction in grants from the Compact of Free Association with the United States (the Compact). Development support has focused on stimulating the FSM’s private sector and on achieving medium-term fiscal sustainability, to ensure sufficient resources are available as the expiration of Compact grants in the financial year (FY) 2023 approaches. In 2015, the FSM’s National Congress endorsed the Action Plan 2023 as a road map to address the fiscal and economic challenges leading up to, and beyond, FY2023.
ADB has historically supported good governance in the FSM, with a focus on economic management and accountability, while also promoting development of the country’s social and private sectors.
Projects in Federated States of Micronesia
No projects in this category were found.
Average annual population growth rate in Micronesia (2010-2015)
Population living below the national poverty line in Micronesia (before 2010)Refers to preliminary/interim figures; or refers to periods before 2010.
Population in Micronesia, in millions (2015)
Maternal mortality ratio in Micronesia, per 100,000 live births (2015)