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    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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    Citable URI
    http://hdl.handle.net/11540/5660
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    Author
    Asian Development Bank
    Theme
    Finance
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise