Asian Development Bank and Kiribati: Fact Sheet
Asian Development Bank | April 2011
Updated yearly, this ADB Fact Sheet provides social and economic indicators on Kiribati as well as concise information on ADB's operations in the country and contact information. In recent years, ADB’s program has shifted focus to pro-poor, economic growth-centered strategic measures, mostly in response to the priorities of the government, as set out in the National Development Strategy, 2004–2007. The economic growth potential of Kiribati is very limited. This is exacerbated by a plethora of underperforming state-owned enterprises and legislation and regulation that hinder private sector development. A technical assistance project titled Economic Management and Public Sector Reform aims to improve fiscal performance and reduce the fiscal deficit through the disciplined use of a medium-term fiscal framework and specific steps to control key expenditure by improving the management and performance of public enterprises. The technical assistance project is being implemented in phases, with a strong focus on capacity building. To support the government’s strategic emphasis on expanding economic activity, ADB undertook a feasibility study for an investment loan to develop an economic growth center on Kiritimati Atoll (Christmas Island). This study explored the possibilities of sustainable economic growth and identified the infrastructure and services necessary to support private sector development, the sustainable use of natural resources, and livelihoods. Kiritimati is, by far, the biggest atoll in Kiribati and has the most potential to absorb an increasing population and generate the necessary jobs. Its proximity to Hawaii, seasonal deepwater tuna resources, freshwater resources for a population eight times larger than at present, considerable tourism potential, and an attractive and unique environment justified an innovative approach to development. However, the government has deferred its decision to borrow from ADB for this purpose.
CitationAsian Development Bank. 2011. Asian Development Bank and Kiribati: Fact Sheet. © Asian Development Bank. http://hdl.handle.net/11540/5651.
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