ADB

Finance Minister Martin Hunt and Nauru Maritime and Port Authority (NMPA) Deputy CEO Operations Wanganeen Emiu signed the grant Tuesday.

The Government of Nauru is investing $200,000 in the project.

The funding will cover key areas of climate change resilience, sustainability, and additional costs caused by the Covid-19 pandemic.

The signing was attended by an ADB team in Nauru and ADB Director General for the Pacific Leah Gutierrez via video link from ADB Headquarters in Manila.

Photo supplied GIO 

The total financing of $13.3 million comes from ADB’s Asia Pacific Disaster Response Fund and comprises $1 million for the Cook Islands; $1.5 million for Kiribati; $630,000 for the Republic of the Marshall Islands (RMI); $1.03 million for the Federated States of Micronesia (FSM); $1 million for Palau; $3 million for Papua New Guinea; $1.5 million for Samoa; $1.5 million for Solomon Islands; $630,000 for Tuvalu; and $1.5 million for Vanuatu.

The ADB's Pacific Urban Update 2020 report details a swathe of urban infrastructure projects that are planned or under way across the region.

ADB Pacific urban division director Jingmin Huang said the report showed how the bank was partnering with island governments, private sector and donor partners.

"And also, this report is very good to help us better understand our position in urban development and then based on that it would help to guide our future development direction," she said.

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.

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.

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.

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’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.” 

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.

“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.”