ADB's Work in the Federated States of Micronesia
Shareholding and Voting Power
Number of shares held:
426 (0.004% of total shares)
39,540 (0.297% of total membership, 0.457% of total regional membership)
Overall capital subscription:
Paid-in capital subscription:
The economy of the Federated States of Micronesia (FSM) continued to grow in 2019, driven largely by the fishing industry, which has attracted substantial increases in domestic revenues from fishing licenses sold to foreign fleets.
However, despite relatively consistent economic activity, significant challenges remain in the FSM. Development partner support has focused on achieving medium-term fiscal sustainability to ensure that sufficient resources are available if grants from the Compact of Free Association with the United States (the Compact) expire in 2023. The country is presently in negotiations to extend the Compact beyond 2023. Investments are also being made to stimulate the FSM’s private sector.
Lovely beach in Chuuk. Chuuk State is one of the states in the Federated States of Micronesia.
ADB has been supporting the FSM since 1990 and has committed loans of $83.5 million, grants of $35.3 million, and technical assistance projects worth $27.7 million.