Nauru and ADB
In the Spotlight
The Government of Australia has provided additional financing of $4.74 million for an ongoing project designed to improve the efficiency, safety and capacity of the electricity supply in Nauru.
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.
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 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