Pacific Private Sector Development Initiative
The Pacific Private Sector Development Initiative (PSDI) is a regional technical assistance facility cofinanced by ADB, the Government of Australia, and the New Zealand Government.
Launched by ADB in 2006, with cofinancing from Australia, PSDI has now entered its third phase with funding from ADB, Australia, and New Zealand.
Operating out of ADB’s Pacific Liaison and Coordination Office in Sydney, PSDI works with ADB’s 14 Pacific developing member countries (DMCs) to improve the enabling environment for business and support inclusive, private sector-led economic growth.
Analysis of the constraints to growth forms the basis of PSDI’s reform strategies in Pacific DMCs, leading to in-depth policy dialogue and advocacy with both government and the private sector. This results in targeted policies that remove constraints and improve the business climate being integrated into ADB’s Country Partnership Strategies. Periodic updates of analytical work assess progress and ensure that reform priorities remain on track.
This approach has enabled PSDI to be efficient and innovative in tailoring assistance to the particular needs of each country.
PSDI focuses on five core areas:
- Financing growth;
- Reforming outdated business laws and removing regulations that compromise investment;
- Enhancing the efficiency of state-owned enterprises and promoting public-private partnerships;
- Ensuring well-functioning competition and regulatory frameworks; and
- Promoting the economic empowerment of women.
PSDI is assisting the following countries:
- Cook Islands
- Marshall Islands
- Micronesia, Federated States of
- Papua New Guinea
- Solomon Islands