Vanuatu and ADB
In the Spotlight
ADB and the Government of Vanuatu have signed a project agreement confirming the Cyclone Pam Road Reconstruction Project.
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.
Vanuatu’s economy is now expected to contract slightly more than previously forecast mainly due to the adverse effect of Cyclone Pam that hit Vanuatu in March 2015.
This brief provides representatives of national government and regional organizations—and other key decision makers in climate change, development, fisheries, agriculture, environment, and natural resource management in Coral Triangle of the Pacific (CTP) and similar countries—with policy advice to help rural communities adapt to climate change.
Vanuatu’s economic performance has remained strong in recent years, driven primarily by tourism, construction, and aid inflows from development partners. However, the country’s remoteness, small market size, underdeveloped institutions, and limited absorptive capacity are key constraints to implementing assistance programs. The rural economy is primarily agrarian, largely subsistence farming, aside from some copra, beef, cocoa, and kava produced for export.
ADB's country operations business plan (COBP), 2016-2018 for Vanuatu aligns with the government’s Priorities and Action Agenda, 2006-2015, as well as its infrastructure strategic investment plan and national energy road map.
Projects in Vanuatu
0.27(2014) Population in millions
2.6%(2009-2014) Average annual population growth rate
12.7%(2010) Population living below the national poverty line