Marshall Islands and ADB
In the Spotlight
The Marshall Islands needed a new hospital, but the joint efforts of the government and ADB produced much more than that. The partners are now facing the challenges of the future together.
Pacific economies are looking to overcome their remoteness through telecommunications technology, improved transport networks, and greater private investment and competition, says a new ADB report.
In 2009, the Marshall Islands adopted its National Energy Policy and Energy Action Plan, setting a 20% renewable energy generation target for 2020.
This country brief summarizes how the partnership of ADB and the Marshall Islands has been instrumental to the development of the country. Since becoming an ADB member, the Marshall Islands had received some $107 million in loans and technical assistance by year-end of 2010.
Just 181 square kilometers in area, the Republic of the Marshall Islands (RMI) is located in a rich fishery in the North Pacific. While the capital of Majuro and the atoll of Ebeye are heavily urbanized, small populations are dispersed across the country’s outer atolls.
Annual grant assistance to the RMI under the Compact of Free Association with the United States (the Compact) has been diminishing since 2003. After the Compact grant period expires in 2023, the RMI is expected to complement domestic revenues with returns from the Compact Trust Fund, which receives annual savings from fiscal surpluses and contributions from development partners. Building the trust fund is a major challenge, especially under prevailing global economic uncertainty.
ADB’s country operations business plan, 2017–2019 for RMI will focus on better and sustainable infrastructure, improved quality of basic education, better public sector management, and structural reform implementation.