ADB's Work in Kiribati
Shareholding and Voting Power
Number of shares held:
426 (0.004% of total shares)
40,123 (0.302% of total membership, 0.464% of total regional membership)
Overall capital subscription:
Paid-in capital subscription:
Driven by construction associated with large, donor-financed investments and by strong revenues from fishing licenses, Kiribati has enjoyed sustained economic growth in recent years. The country’s economy is, however, highly vulnerable to external shocks and income volatility. It is highly exposed to extreme weather events and the impacts of climate change, and is dependent on imports and nontax revenues. Sources of external revenue include foreign aid and investment income from Kiribati’s sovereign wealth fund, the Revenue Equalization Reserve Fund. Private sector development is constrained by the size and scale of the economy, the high costs of doing business, and the country’s widely dispersed population.
Aerial view of Kiribati.
ADB has been working with Kiribati since 1974, having committed loans and grants totaling $96.97 million as well as technical assistance projects worth $20.02 million.
Cumulative loan and grant disbursements to Kiribati amount to $55.8 million. These were financed by concessional ordinary capital resources, and the Asian Development Fund.