Nauru and ADB
In the Spotlight
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Pacific Economic Monitor – December 2019
The 2019 growth forecast for the Pacific subregion has been raised from 3.5% to 4.2%, driven mainly by higher liquefied natural gas production in Papua New Guinea and increased construction expenditure in Samoa and Solomon Islands, as well as lower-than-projected economic decline in Nauru.
However, project delays in Papua New Guinea, tepid growth in some economies, and slower recovery in others will likely moderate subregional growth to 2.6% in 2020. Read more in the latest Pacific Economic Monitor
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Building Resilience is Key to Economic Growth in the Pacific
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.
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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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Port Upgrade Throws a Lifeline to the People of Nauru
A $79.59 million project co-financed by ADB, the Governments of Australia and Nauru, and the Green Climate Fund, is set to transform Nauru’s 111-year-old Aiwo boat harbor into an efficient, reliable, and climate-resilient port.
Nauru is the world’s smallest island nation, located significant distances from international markets.
In recent years, the economy has benefited from the presence of a regional processing center for asylum seekers, strong revenues from fishing licenses, and the liquidation of the Nauru Phosphate Royalties Trust. Economic and fiscal sustainability, however, remain key concerns for the government. The country relies on narrow and uncertain sources of revenue, with limited private sector opportunities. Education outcomes are improving but are still poor by international standards, while rates of noncommunicable diseases are among the highest in the world.
ADB and Nauru have been working together to strengthen public financial management, raise the performance of state-owned enterprises, improve service delivery, and address infrastructure needs.
Latest
Concerted Action Needed to Address Unique Challenges Faced by Pacific Island Countries — ADB
Small island developing states must position themselves to take full advantage of often limited, but nonetheless available, opportunities to improve standards of living and accelerate economic growth, according to the latest issue...
The Pacific Economic Monitor provides updates on developments in Pacific economies and explores topical policy issues.
Pacific Economic Monitor – December 2019
ADB's First Satellite Financing to Expand Internet Access in Asia and Pacific
ADB today signed a $50 million agreement with Kacific Broadband Satellites International Limited to provide affordable satellite-based, high-speed broadband internet connections to countries in Asia and the Pacific, especially...
Projects in Nauru
Approved/Active
- Pacific Private Sector Development Initiative, Phase IV
- Pacific Region Infrastructure Facility Coordination Office-Leveraging Infrastructure for Sustainable Development
- Solar Power Development Project
- Preparing the Pacific Renewable Energy Investment Facility (Phase 2)
- Improving Pacific Public Financial Management Facility
