Asian Development Bank

New ADB fund to expand Private sector operations in frontier markets

ADB Frontier will target small investments in companies with strong potential to generate growth, employment, and climate action, and to empower women and girls.

“ADB Frontier is a meaningful scaling up of ADB’s private sector operations in frontier market countries facing unique development challenges,” said ADB Director General for Private Sector Operations Suzanne Gaboury.

ADB tips 'broad-based recovery' across entire Pacific this year

This is according to the bank's Asian Development Outlook of April 2023.

ADB director-general for the Pacific, Leah Gutierrez, said the signs were good but warned about some potential hurdles.

"A broad-based recovery across the Pacific is now on the horizon as the impact of the pandemic recedes and economies reopen," she said.

"But this recovery faces several headwinds, including structural risks from disaster impacts and climate change.

ADB and Nauru sign grant to expand and improve water, waste management services

Nauru’s Minister of Finance and ADB Governor Martin Hunt and ADB Pacific Department Director General Leah Gutierrez signed the grant agreement, which will partly fund the assessment, planning, and capacity building needed to implement the proposed Nauru Sustainable Urban Development Project.

“Growth in Nauru’s urban areas puts stress on essential services, including water supply and sanitation,” said Hunt. “There is a critical need for this urban project, preparation is key, and we appreciate ADB’s support in planning and developing it.”  

ADB approves US$5 million grant to improve urban service delivery in Nauru

The grant will partly fund the assessment, planning, and capacity building needed to implement the proposed Nauru Sustainable Urban Development Project.

The planned US$20 million project will increase access to and improve the quality and safety of essential urban services for about 2,150 households on the island.

ADB, Australia help strengthen Public Financial Management in Pacific

ADB is providing US$2 million and Australia US$390,000 (in equivalent AUD$500,000) in additional financing to the program which was established in June 2020 to support the Cook Islands, Fiji, Kiribati, Niue, Samoa, Tonga, and Tuvalu.

“The additional financing from the Government of Australia is highly appreciated and will be used to expand the scope of the assistance to Fiji where reforms will focus on strengthening public financial management practices in Fiji,” said Regional Director of ADB’s Pacific Subregional Office in Fiji Masayuki Tachiiri.

ADB launches digital health guide for Pacific

 The Digital Health Implementation Guide for the Pacific sets out a clear pathway for countries seeking to implement and invest in digital health. The primary audiences for the user-friendly guide are Pacific health managers and those working in information and communication technology in the health sector.

ADB has five-year urban development plan for Pacific

It has a road map which identifies major constraints for the delivery of urban services in the Pacific, including fragile economies, limited public land and capacity issues.

The bank also found women and girls having less access to services and resources.

The road map will be used to guide, among other things, the design and implementation of sustaining urban services, such as water supply, sanitation, hygiene, and waste management.

It will also improve spatial planning and help prepare for climate change including flood and drought management.

     

ADB tips Pacific return to growth in 2021

The Asian Development Bank (ADB) says Pacific member economies contracted by 5.8 percent in 2020 due to Covid-19 but it forecasts a recovery by year's end.

The ADB tips 1.4 percent growth but notes that is contingent on a return of tourism, a start of delayed construction, and the resumption of labour mobility and international trade.

But the bank's Pacific economist Rommel Rabanal said not every country will return to growth and that there are ongoing risks.

ADB's $5 million grant to support public investment management, fiscal sustainability in Nauru

“The Government of Nauru is implementing a comprehensive reform programme, improving public investment management which will help Nauru sustain a responsible fiscal position and strengthen public service delivery,” said the Regional Director of ADB’s Pacific Liaison and Coordination Office Lotte Schou-Zibell. “This programme builds on the long-term engagement of ADB and Nauru’s other development partners.”

ADB offers support for Pacific renewable power projects

The support includes loans, guarantees, and letters of credit aimed to overcome constraints to private sector investment in the renewables sector.

The ADB says the Pacific Renewable Energy Programme will support an estimated 5 separate renewable energy projects in its Pacific developing member countries over a 5 year period.

"The program will help to build urgently needed capacity for energy sector expansion and private sector interest in clean energy projects in the region," said the Director General of the ADB's Pacific Department Carmela Locsin