Federated States of Micronesia 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 is scaling up its assistance in the Pacific, with our active portfolio growing from $500 million in 2004 to $2.6 billion at the end of 2017.
The government and the people of the Federated States of Micronesia (FSM) have been working with ADB since 1990. According to a country brief, the FSM received a total of $99.57 million of support from ADB through loans, grants, and technical assistance by the end of 2010.
The resumption of public investments in the Federated States of Micronesia (FSM) has helped its economy attain 1.4% growth in Fiscal Year 2015, following 3 years of economic contraction. Stimulus from construction under compact infrastructure grants will support growth in the near term.
Development support has focused on stimulating the private sector and on achieving medium-term fiscal sustainability, to ensure sufficient resources are available as the expiration of compact grants in FY2023 approaches.
Projects in the Federated States of Micronesia
- Pacific Renewable Energy Program
- Implementing a Differentiated Approach to Urban Development in the Pacific
- The Economic Impacts of the End of Compact Grant Assistance
- Towards Effective and Sustainable Delivery of Development Results in Fragile Situations in the Pacific
- Asian Development Outlook 2019–2021