ADB

Construction begins for Nauru's first international port, supported by ADB

Nauru President Lionel Aingimea today witnessed the upgrade work as engineers installed large reinforced concrete piles into the atoll’s bedrock. Over 500 of these concrete piles will form the basis of the port’s main structure.

“We are now realizing our dream of having an international port, and strong development partnership during implementation will be the key to the success of this project,” said Mr. Aingimea.

Nauru harbour project attracts big support

Once complete the harbour will be the first fully functioning international port in Nauru.

The ADB said the Nauru Sustainable and Climate Resilient Connectivity Project would transform the largely inoperable boat harbour into an efficient, reliable, and climate-resilient port which will improve the quality of life on Nauru.

The ADB has given a grant of $US21.3 million, the Green Climate Fund $US26.91 million, Australia $US14.08 million, and Nauru $US17.3 million.

Australia gives additional funding to assist Nauru Port Project preparation

The project is currently supported by a $900,000 technical assistance from the Asian Development Bank (ADB).

The $79.59 million project, which will enhance port operations in Nauru through structural improvements and capacity building of relevant agencies, will be financed by ADB, the Government of Australia, the Green Climate Fund, and the Government of Nauru. The project is scheduled for discussion by ADB’s Board of Directors in early 2018.

ADB wants more profitability from Pacific SOEs

RNZ reports SOE portfolios in eight Pacific countries examined contribute only 1.8% to 12% of gross domestic product, despite having very large asset bases, ongoing government cash transfers, and monopoly market positions.

The ADB said productivity levels of the SOEs were also well below that found in developed countries.

But the Bank noted some successes in pursuing commercially-oriented reforms.

It said that over the past 14 years Solomon Islands has improved significantly, with Tonga also doing better.

 

ADB, Australia grants to help Nauru strengthen fiscal sustainability

ADB’s is extending a US$2 million policy-based grant from its Asian Development Fund, while the Government of Australia is providing US$1.8 million for the Nauru Fiscal Sustainability Reform Programme.

“The Nauru Fiscal Sustainability Reform Programme will help the Government of Nauru to establish the Nauru Intergenerational Trust Fund to save currently high public revenue for the future,” said Andrea Iffland, Regional Director of ADB’s Pacific Liaison and Coordination Office in Australia. ”The programme will help the Government of Nauru deliver improved social services.” 

ADB: Pacific not capitalising on the rise of Asia

But the report by the Asian Development Bank also shows the region is not doing enough to capitalise on the rapid expansion of its Asian neighbours.

Emma Veve is the Director of the ADB's Pacific Department and she says Pacific countries must do more to encourage innovation and generate wealth.

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ADB energy portfolio in the Pacific to exceed $500 million by 2016

“ADB’s energy operations in the Pacific aim to boost energy security, support low-carbon growth and help expand access to modern energy services,” said Michael Trainor, Energy Specialist in ADB’s Pacific Department.

“Our energy policy rests on promoting energy efficiency, renewable energy, capacity building, and energy sector reform.”