Palau and ADB
In the Spotlight
ADB joined the Government of Palau in an inauguration ceremony to officially open the ADB Pacific Country Office (PCO) in Koror. Read news
ADB will invest over $1 billion worth of energy projects in the Pacific from 2019 to 2021 to increase renewable energy generation and improve access to affordable and sustainable electricity in the subregion.
Pacific Energy Update 2019 details how ADB is helping its Pacific developing member countries undertake a structural shift away from fossil fuel-based energy sources and towards renewables. Read more
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
Tourism in the Pacific is increasing and a key driver of economic growth. In Palau, recent internet connection upgrade is helping promote the island country's tourism industry.
With outstanding natural and cultural resources, Palau has benefited from strong growth in the tourism sector that has driven overall economic growth. Despite this positive progress, as a small-island state with a population of around 20,000, Palau remains vulnerable to external economic shocks, the impacts of climate change, and other environmental and weather-related risks.
ADB’s strategy in Palau is to provide support to improve public sector effectiveness, facilitate private sector development, deliver safe water and sanitation services, and improve connectivity.
Projects in Palau
- Pacific Private Sector Development Initiative, Phase IV
- Pacific Region Infrastructure Facility Coordination Office-Leveraging Infrastructure for Sustainable Development
- Preparing the Pacific Renewable Energy Investment Facility (Phase 2)
- Pacific Renewable Energy Program
- Implementing a Differentiated Approach to Urban Development in the Pacific