Timor-Leste 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. Timor-Leste's economy has projected growth rates of 3.0% and 5.5% for 2018 and 2019, respectively, says a new ADB report.
ADB's Board of Directors has approved a total of $44 million in total financing to upgrade 58 kilometers of roads from Baucau to Viqueque and improve connectivity in Timor-Leste.
Timor-Leste, Asia’s youngest country, has moved past the strife of recent years and is building an economy that benefits all. ADB Country Director Paolo Spantigati explains how ADB is working with the country to support its future development.
ADB has been supporting Timor-Leste’s development since 1999. According to this country brief, ADB is helping the government build a broad-based, non-oil economy through supportive investments in the national road network, urban water supply, and vocational education.
Timor-Leste’s development prospects hinge on prudent use of its petroleum wealth to finance high-quality, sustainable investments in physical and human capital. The country has made excellent progress in state building and improving key social services, but its human development indicators remain among the lowest in the region.
The country partnership strategy, 2016–2020 for Timor-Leste will help develop a sustainable non-oil economy by improving infrastructure, developing key institutions, and increasing investments in human capital.
Read the ADB and Timor-Leste fact sheet.