Nauru and ADB
In the Spotlight
A grant cofinanced by ADB and the European Union will support the delivery of reliable, sustainable electricity to the people of Nauru.
The growth outlook for developing Asia and the Pacific remains steady, even though momentum slowed in the second half of 2014, but the declining oil prices represent a golden opportunity for many beneficial reforms, ADB says in a new report.
ADB-wide sovereign approvals in the Pacific has risen substantially since 2010, reaching almost $1.8 billion in 2013. ADB is assessing and updating the Pacific Approach, which will continue to guide its operations in the region.
The Pacific region is benefitting from stronger links with Asia’s growing economies, and can gain more with targeted policy reforms and investments, according to ADB's Pacific Economic Monitor.
As the key source of multilateral development assistance to Nauru, ADB closely coordinates its program of assistance with development partners, particularly with Australia, the largest bilateral aid partner for Nauru.
ADB's future operation in Nauru will continue the strategic focus on public sector management and energy.
ADB is continuing to support the reintroduction of banking services to Nauru through the development of a new banking act.