- Key Facts
- Board of Governors
- Board of Directors
- Departments and Offices
- Policies and Strategies
- Annual Meetings
- Independent Evaluation
- News & Events
- Data & Research
- Industry and Trade
- Information and Communication Technology
- Public Sector Management
- Social Protection
- Capacity Development
- Climate Change
- Environmental Sustainability
- Gender and Development
- Poverty Reduction
- Private Sector Development
- Regional Cooperation and Integration
- Social Development
- Urban Development
- Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA)
- Central Asia Regional Economic Cooperation (CAREC)
- Greater Mekong Subregion (GMS)
- Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT)
- South Asia Subregional Economic Cooperation (SASEC)
- European Representative Office
- Japanese Representative Office
- North American Representative Office
- Pacific Liaison and Coordination Office
- Pacific Subregional Office
Countries with Operations
- China, People's Republic of
- Cook Islands
- Kyrgyz Republic
- Lao PDR
- Marshall Islands
- Micronesia, Federated States of
- Papua New Guinea
ADB to Help Tuvalu Strengthen Public Financial Management and Good Governance
MANILA, PHILIPPINES - The Asian Development Bank (ADB) will help the Tuvalu Government strengthen its public financial management and governance systems, as the island nation copes with reduced income from offshore sources due to the global financial crisis.
Tuvalu’s economy has been adversely affected by a period of high fuel and food prices – pushing up overall inflation, threatening the pace of future economic growth as well as the delivery of basic social services. An expectation of declining trust fund earnings in the next two to three years has placed even greater fiscal pressure on the government.
“The Improved Public Financial Management Program will assist Tuvalu with fiscal stability, improve public enterprise performance, and boost business and public confidence in the government’s financial management and governance systems,” said ADB Country Specialist Emma Ferguson.
ADB is providing a grant of $3.24 million sourced from the concessional Asian Development Fund (ADF).
Tuvalu will implement key reforms in order to gain access to the funds. These reforms are expected to improve public debt management through the reduction of government debt to the National Bank of Tuvalu, and to upgrade the management of public enterprises to enhance performance.
The ADB assistance will have a strong focus on sustained economic growth, capacity development, and private sector development in line with the government’s national development strategy.