Federated States of Micronesia and ADB
In the Spotlight
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Utilities Reform Needed for Better Service Delivery in the Pacific — ADB
Investments in basic services must be complemented by policy and regulatory reforms as well as capacity development to support a shift towards more commercially viable utilities in the Pacific, says the latest issue of the ADB Pacific Economic Monitor.
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Our Work in the Pacific
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.
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ADB, World Bank Support High-Speed Internet for Micronesia
ADB's Board of Directors has approved a total of $36.6 million in grants to help fund the delivery of low-cost, high quality internet service in the Federated States of Micronesia, Kiribati, and Nauru.
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Federated States of Micronesia: Opening for Business
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.
Read the fact sheet: ADB and the Federated States of Micronesia
Latest
United States Joins Pacific Region Infrastructure Facility
ADB has welcomed the United States as the newest member of the Pacific Region Infrastructure Facility (PRIF) during a PRIF agency member leaders meeting today.Eleven (11) Small Pacific Island Countries: Country Operations Business Plan (2019-2021)
In line with the Pacific Approach, the country operations business plan for 2019−2021 takes a multicountry approach to identify common development challenges and opportunities for operational efficiencies across the 11 small Pacific island countries.ADB Lowers 2018 Growth Forecast for Pacific, Sees Recovery in 2019
ADB forecasts economic growth of 1.1% in the Pacific subregion in 2018, down from earlier forecasts due to disaster-related challenges and declines in public spending.
Projects in the Federated States of Micronesia
Approved/Active
- Towards Effective and Sustainable Delivery of Development Results in Fragile Situations in the Pacific
- Asian Development Outlook 2019–2021
- Enhancing ADB’s Support for Social Protection to Achieve the Sustainable Development Goals
- Improving Internet Connectivity for Micronesia Project (formerly Improving Internet Connectivity for FSM, Kiribati, and Nauru)
- Capacity Building and Sector Reform for Renewable Energy Investments in the Pacific
Funding Information
Source: ADB and the Federated States of Micronesia: Fact Sheet.
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