Samoa and ADB
In the Spotlight
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.
ADB’s country operations business plan, 2015-2017 for Samoa makes energy a priority area of support and sets a primary goal of reducing the country’s dependence on imported fossil fuels by generating power from renewable energy sources. Download Pacific Energy Update 2015.
The Government of Samoa and ADB launched a grant project that aims to strengthen the agribusiness sector in the country by providing support services and financing to companies over the next 7 years.
Known as a reform-oriented country in the Pacific, Samoa has achieved significant development gains through ADB support in education, infrastructure, and other sectors.
Samoa continues to make progress in achieving its Millennium Development Goals. Poverty has fallen in urban centers, child mortality has been reduced, and the government has placed greater emphasis on environmental sustainability. Primary school education is now almost universal for children in Samoa, while gender disparity in both primary and secondary education has been eliminated.
With a narrow base, limited resources, and limited capacity, Samoa’s economy is extremely vulnerable to external shocks and natural disasters.
ADB has supported the government’s efforts to reform Samoa’s economy, placing a focus on competitive structuring and private enterprise. The country operations business plan for 2015-2017 adheres to ADB’s Pacific Approach, which serves as the country partnership strategy for Samoa and aims to deliver sustained, resilient, and improved standards of living for the people.