Strategy

The country operations business plan (COBP), 2015-2017, for the Federated States of Micronesia (FSM) supports the priorities in the Medium-Term Development Framework and the implementation of the Action Plan 2023, combining investments in ports, energy, and sustainable tourism with technical assistance that supports public administration reforms. The COBP 2015-2017 is consistent with ADB’s Pacific Approach that serves as the country partnership strategy for the FSM and the midterm review of ADB’s Strategy 2020.

The Medium-Term Development Framework, released at the Development Partners’ Forum in 2012, provides the country’s strategic development priorities. It aims to establish a solid foundation for a sustainable growth and medium-term fiscal sustainability, focusing on implementing macroeconomic policies supporting inclusive and sustainable growth, guarding fiscal sustainability through tax reforms and rigorously prioritized public investments, improving effectiveness and efficiency of the public sector, developing the agriculture and sustainable tourism sectors as key growth sectors, and enhancing development effectiveness of external assistance. ADB is supporting the government in developing the Action Plan 2023 to update the framework implementation.