Federated States of Micronesia 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. Capacity constraints could limit infrastructure investment-driven growth in the Federated States of Micronesia, says a new ADB report.
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.
Countries in the Pacific should step up their efforts to adapt to more extreme weather conditions and mitigate disaster risks to improve the region’s economic growth prospects, according to ADB's latest Pacific Economic Monitor.
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 Federated States of Micronesia
No projects in this category were found.