The grant, made by the ADB board of directors on January 25, 2018, completes the funding required for the $79.5 million project and comes only three months after the decision by the United Nations Green Climate Fund to contribute $26.9 million.
The balance will be funded by the Governments of Nauru and Australia.
Minister for Finance David Adeang has thanked the ADB and called it a wonderful and exciting day for Nauru.
“Due to our remoteness and size, we rely so much on shipping, and the current port is inadequate, expensive and dangerous,” he said.