Tuvalu and ADB
In the Spotlight
A new Asian Development Bank report says Pacific economies face lower growth and tighter fiscal conditions this year due to low commodity prices and severe cyclones.
ADB will provide $2 million in emergency assistance to help the government and people of Fiji to cope with and recover from the damage caused by Tropical Cyclone Winston.
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.
In Tuvalu, extreme poverty is not present but more than a fourth of the people live below the national poverty line. Poverty rates are generally higher on the remote outer islands. Income growth has been relatively high in Tuvalu since the mid-1990s and access to basic services is generally good.
Tuvalu is a fragile microstate consisting of nine low-lying atolls. The country has a total area of only 26 square kilometers, and most of its 11,000 people live on the main island, Funafuti.
With few exports, Tuvalu is almost entirely dependent on external aid as well as highly variable revenue from fishing licenses, remittances, surpluses from the country’s overseas trust fund, and rent of its “dot tv” internet extension. Building and maintaining fiscal resilience and upgrading maritime infrastructure are key priorities for the government.
ADB's approach and operations in Tuvalu are aligned with the national strategy for sustainable development and its objectives of good governance, macroeconomic growth and stability, and sustainable economic infrastructure.
Projects in Tuvalu
0.01(2014) Population in millions
0%(2009-2014) Average annual population growth rate
26.3%(2010) Population living below the national poverty line