Cook Islands and ADB
In the Spotlight
The economies of countries in the Pacific are expected to recover over the next two years, although building resilience against natural hazards and climate change remains a key priority, according to 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.
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
- Pacific Renewable Energy Program
- Implementing a Differentiated Approach to Urban Development in the Pacific
- Asian Development Outlook 2019–2021
- Pacific Information and Communication Technology Investment Planning and Capacity Development Facility (Phase 2) - Information and Communication Technology Sector Assessment in the Pacific DMCs (Subproject 2)
- Enhancing ADB’s Support for Social Protection to Achieve the Sustainable Development Goals