Tuvalu and ADB
In the Spotlight
Expansionary fiscal measures in Tuvalu, such as a 14.9% increase in public sector wages and construction spending, are seen to spur domestic economic activity.
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.
For almost half a century, ADB has been partnering with Pacific developing countries to help them grow and prosper. ADB has scaled up its assistance in the Pacific to more than $2 billion by the end of 2014 from about $500 million in 2004. The vast majority of this support goes into building infrastructure.
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.
Rebuilding and maintaining fiscal resilience is the main priority for the government, particularly in light of growing public demand for better services and infrastructure. ADB remains committed to the government’s road map for improving the management of public resources, exercising prudent public expenditure and fiscal management, strengthening corporate governance, and delivering better public service to the people of Tuvalu.
ADB's approach and operations in Tuvalu are aligned with the National Strategy for Sustainable Development, Te Kakeega 2005-2015, and its objectives of good governance and macroeconomic growth and stability.
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