Nauru and ADB
In the Spotlight
Economic growth in Nauru is estimated to have been slower than forecast in financial year 2015, but is projected to exceed the forecast in financial year 2016.
The Government of Australia and ADB have established the Pacific Business Investment Facility, an advisory service for Pacific island businesses requiring commercial finance for growth, diversification, or consolidation of their businesses.
A grant cofinanced by ADB and the European Union will support the delivery of reliable, sustainable electricity to the people of Nauru.
The economy of Nauru grew strongly in 2014, boosted by the reopening of Australia’s Regional Processing Centre for asylum seekers, and the liquidation of the Nauru Phosphate Royalties Trust. Despite these increases in revenue, Nauru faces many serious development challenges. The country has almost no private sector, little arable land, limited freshwater supply, and extremely high levels of debt. The government also has limited sources of internal revenue. Education outcomes are improving, but are still poor by international standards, and have contributed to high rates of youth unemployment. Meanwhile, Nauru’s levels of noncommunicable diseases such as diabetes and cancer, are among the highest in the world.
The country operations business plan, 2016-2018 continues the strategic direction of ADB in Nauru in the areas of public sector management, energy, and transport.
Projects in Nauru
0.01(2014) Population in millions
1.8%(2009-2014) Average annual population growth rate