ADB's Work in Kiribati
Shareholding and Voting Power
Number of shares held:
426 (0.004% of total shares)
39,540 (0.297% of total membership, 0.457% of total regional membership)
Overall capital subscription:
Paid-in capital subscription:
Composed of 33 small islands dispersed over 3.5 million square kilometers in the Pacific, Kiribati joined ADB in 1974.
Aerial view of Kiribati.
The economy is driven by construction associated with large, donor-financed investments and by strong revenues from fishing licenses. Kiribati has enjoyed sustained economic growth in recent times, averaging 3.9% from 2012 to 2018. The country’s economy is, however, highly vulnerable to external shocks and income volatility. It is exposed to extreme weather events and the impacts of climate change, and is dependent on imports and nontax revenues. Sources of external revenue include fishing license receipts, 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.
Since 1974, ADB has committed loans and grants totaling $96.97 million and technical assistance worth $20.02 million for Kiribati.