Asian Development Bank and Nauru: Fact Sheet
Asian Development Bank | June 2011
Abstract
Updated yearly, this ADB Fact Sheet provides social and economic indicators on Nauru as well as concise information on ADB's operations in the country and contact information. Nauru—the world’s smallest island republic, in Micronesia in the South Pacific—has a population estimated at around 10,000, living on one island about 21 square kilometers in size. The country joined the Asian Development Bank (ADB) in 1991 and has since received one loan for $5 million and seven technical assistance grants totaling $1.9 million. However, in 2002, the Government of Nauru’s noncompliance with tranche conditions resulted in the closure of the loan and the $2.7 million balance canceled. Subsequent governments reversed previously agreed reform measures, making it difficult for ADB to proceed with releases. A reform-minded government was elected in October 2004, and ADB recommenced assistance in 2005. In September 2006, ADB reviewed its 1998 Graduation Policy governing the access of countries to different types of ADB resources. As part of this review, and in light of Nauru’s high level of indebtedness, ADB reclassified Nauru as a Group A country (Asian Development Fund only). In June 2008, Australia paid out Nauru’s arrears, and the country is now able to access assistance through ADF resources.
Citation
Asian Development Bank. 2011. Asian Development Bank and Nauru: Fact Sheet. © Asian Development Bank. http://hdl.handle.net/11540/5660.Keywords
Urban Development Finance
Trade Finance
Small Business Finance
Rural Finance
Roundtable on International Trade and Finance
Regional Development Finance
Public Service Finance
Public Finance
Project Finance
Private Finance
Nonbank Financing
Non-Bank Financial Institutions
Municipal Finance
Local Government Finance
Local Currency Financing
Limited Resource Financing
International Financial Institutions
Infrastructure Financing
Industrial Finance
Government Financial Institutions
Government Finance
Financing of Infrastructure
Financial Sector Development
Financial Regulation
Taxation
Public Accounting
National Budget
Municipal Bonds
Local Government
Local Taxes
International Monetary Relations
International Financial Market
International Banking
Central Banks
Business Financing
Capital Resources
Budgetary Policy
Capital Needs
Corporate Divestiture
Capital Instruments
Pension Funds
Insurance Companies
Banks
Portfolio Management
Fiscal Administration
Economics of Education
Development Banks
Use tax
Taxing power
State of taxation
Tax-sales
Tax revenue estimating
Tax planning
Spendings tax
Special assessments
Tax administration and procedure
Sales tax
Real property and taxation
Progressive taxation
Effect of taxation on land use
Effect of taxation on labor supply
Intergovernmental tax relations
Inheritance and transfer tax
Energy tax
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