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Niue and ADB

ADB’s operations in Niue will be guided by the Pacific Approach, 2021–2025, which will serve as the country partnership strategy for the bank’s 12 small Pacific island countries.

In the Spotlight

Health, Social Protection to Underpin Sustainable Recovery from COVID-19

15 Dec 2020 | News Release

Health, Social Protection to Underpin Sustainable Recovery from COVID-19

Growth in the Pacific subregion for 2020 has been further downgraded as the impact of the coronavirus disease (COVID-19) pandemic continues to squeeze the region’s economies.

Pacific Economic Monitor – December 2020

15 Dec 2020 | Publication

Pacific Economic Monitor – December 2020

Sufficient provisioning for health and social protection will help support a swift, inclusive recovery in Pacific island countries.

How flexible and fast PSDI is developing the Pacific’s private sector

26 Oct 2020 | Article

How flexible and fast PSDI is developing the Pacific’s private sector

Doing business in the Pacific is hard, but sweeping reforms carried out by the Pacific Private Sector Development Initiative (PSDI) are breaking down the barriers to business in the region. 

Pacific Economic Monitor – July 2020

30 Jul 2020 | Publication

Pacific Economic Monitor – July 2020

Most Pacific island countries appear to have avoided direct health impacts from the coronavirus disease (COVID-19). Yet, the pandemic highlights the need to strengthen their health and social protection systems.

Overview

Fiscal discipline, along with large and predictable inflows of overseas development assistance, have helped to ensure macroeconomic stability in Niue. In April 2019, just one month after Niue joined the bank, ADB committed a technical assistance project to support improved public financial management in the country.

News Release

ADB Membership

Joined 2019

Shareholding and Voting Power

Number of shares held:
150 (0.001% of total shares)

Votes:
39,264 (0.295% of total membership, 0.453% of total regional membership)

Overall capital subscription:
$2.07 million

Paid-in capital subscription:
$0.11 million

ADB's Work in Niue

In March 2019, Niue became the 68th and most recent member of ADB.

Niue faces significant challenges in achieving sustained social and economic development. It is one of the smallest countries in the world, with an estimated population of just 1,520 in 2018. In proportionate terms, Niue has experienced the largest population decline of any country in recent history. The resident population of the island was reported as 5,194 in 1966.

Tourism development has been the main driver of economic growth in Niue. Improved flight connectivity, investment in accommodation facilities, and a coordinated marketing campaign have seen visitor arrivals rise from around 2,000 in 2005 to about 11,500 in 2017. At around eight visitors for every resident, this translates into one of the highest tourist-to-population ratios globally.

Fiscal discipline, along with large and predictable inflows of overseas development assistance, have helped to ensure macroeconomic stability in Niue. The country’s development has particularly benefited from its close relationship with New Zealand, which provides significant technical and financial assistance.

ADB-Supported Projects and Programs

In April 2019, just one month after Niue joined the bank, ADB committed a technical assistance project to support improved public financial management in the country. Using the 2016 Public Expenditure and Financial Accountability framework, ADB will provide the necessary expertise to assess the Government of Niue’s financial management systems, prepare a road map for strengthening those systems, and develop measures to improve accounting and financial reporting of public expenditure.

ADB is also supporting a feasibility study to address operational and safety issues at the Alofi wharf, Niue’s main port, and at the boat ramps of Avatele and Namukulu. The study will provide the groundwork for improvements to the wharf and boat ramps, which will enhance the country’s regional connectivity and maritime asset resilience.

Niue participates in ADB’s regional conferences and training programs to access regional best practice and improve the capabilities of its development practitioners. The country will also benefit from regional technical assistance projects covering areas such as public sector management, private sector development, and infrastructure development.

Nonsovereign Operations

As a catalyst for private investments, ADB provides financial assistance to nonsovereign projects and financial intermediaries. Total commitments from ADB’s own funds (in equity and direct loans) in 2019 amounted to $3.00 billion for 38 transactions in economic and social infrastructure, the finance sector, and agribusiness. ADB also actively mobilizes cofinancing from commercial and concessional sources. In 2019, ADB mobilized $3.28 billion of long-term cofinancing and $3.69 billion of cofinancing in trade finance, microfinance, and supply chain finance programs. Total outstanding balances and commitments of nonsovereign transactions funded by ADB’s own resources stood at $13.78 billion as of 31 December 2019.

Future Directions

ADB’s operations in Niue will be guided by the Pacific Approach, 2021–2025, which will serve as the country partnership strategy for the bank’s 12 small Pacific island countries.

This article was originally published in the ADB and Niue: Fact Sheet. Updated yearly, this ADB Fact Sheet provides concise information on ADB's operations in the country and contact information.

Contact

Pacific Subregional Office (SPSO) - Asian Development Bank (ADB)

91 Gordon Street
Suva, Fiji

  Office Hours: 8:00 a.m. to 5:00 p.m. (Monday to Friday)

  Tel +679 3318101
  Fax +679 3318074
  E-mail