Cook Islands and ADB
In the Spotlight
Growth in the Pacific is expected to remain weak in 2018, as economic and political uncertainties, fiscal challenges, and natural disasters hold back some of the region’s larger economies. The Cook Islands’ economy is expected to expand by 3.5% in 2018, says a new ADB report.
ADB's Board of Directors has approved a $15 million loan for an internet submarine cable project to connect Rarotonga and Aitutaki in the Cook Islands.
This latest issue highlights the gains of Pacific developing member countries and the challenges that these countries continue to face including the impacts of climate change.
The Cook Islands consists of 15 small islands dispersed over 1.8 million square kilometers of the South Pacific Ocean.
Tourism is the country’s leading source of revenue, accounting for around 60% of gross domestic product, ahead of offshore banking, pearl farming, marine industry, and fruit exports. The Cook Islands is highly vulnerable to external economic shocks, especially falls in tourism, and is prone to natural disasters, particularly cyclones.
The ADB country operations business plan (COBP), 2017-2019 for the Cook Islands is aligned with ADB’s Pacific Approach 2016-2020, which guides ADB’s operational assistance in the Pacific and serves as the country partnership, with an emphasis on reducing costs, managing risks, and enabling value creation.
Projects in the Cook Islands
No projects in this category were found.