Palau and ADB
In the Spotlight
Growth in the North Pacific is expected to rise in the near term due to favorable external conditions, stimulus from infrastructure projects, and continued tourism growth in Palau, says a new report from ADB.
A ramping up of natural gas exports in Papua New Guinea (PNG) is expected to push the Pacific region’s average GDP growth to 10.7% this year, a new ADB report says.
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.
Engaging the private sector through public-private partnerships and privatization improves the performance and service delivery of state-owned enterprises, according to a new report by ADB.
Palau has been successful in managing its economy, capitalizing on tourism. Balancing tourism development and conservation of its natural environment poses challenges.
ADB’s country operations business plan, 2015-2017 for Palau focuses on improving public sector effectiveness, facilitating private sector development, delivering safe water and sanitation services, and improving connectivity.
0.02(2013) Population in millions
-1.9%(2008-2013) Average annual population growth rate
24.9%(2006) Population living below the national poverty line