Marshall Islands and ADB
In the Spotlight
ADB will invest over $1 billion worth of energy projects in the Pacific from 2019 to 2021 to increase renewable energy generation and improve access to affordable and sustainable electricity in the subregion.
Pacific Energy Update 2019 details how ADB is helping its Pacific developing member countries undertake a structural shift away from fossil fuel-based energy sources and towards renewables. Read more
The 2019 growth forecast for the Pacific subregion has been raised from 3.5% to 4.2%, driven mainly by higher liquefied natural gas production in Papua New Guinea and increased construction expenditure in Samoa and Solomon Islands, as well as lower-than-projected economic decline in Nauru.
However, project delays in Papua New Guinea, tepid growth in some economies, and slower recovery in others will likely moderate subregional growth to 2.6% in 2020. Read more in the latest Pacific Economic Monitor
乐动体育注册Tourism in the Pacific is increasing and will be a key driver of economic growth in the coming decade. Yet despite more visitors to the Pacific, tourism growth is not inevitable for all countries in the region.
This country brief乐动体育注册 summarizes how the partnership of ADB and the Marshall Islands has been instrumental to the development of the country. Since becoming an ADB member, the Marshall Islands had received some $107 million in loans and technical assistance by year-end of 2010.
乐动体育注册Just 181 square kilometers in area, the Republic of the Marshall Islands (RMI) is located in a rich fishery in the North Pacific. While the capital of Majuro and the atoll of Ebeye are heavily urbanized, small populations are dispersed across the country’s outer atolls.
Annual grant assistance to the RMI under the Compact of Free Association with the United States (the Compact) has been diminishing since 2003. After the Compact grant period expires in 2023, the RMI is expected to complement domestic revenues with returns from the Compact Trust Fund, which receives annual savings from fiscal surpluses and contributions from development partners. Building the trust fund is a major challenge, especially under prevailing global economic uncertainty.
ADB’s country operations business plan for RMI will focus on better and sustainable infrastructure, improved quality of basic education, better public sector management, and structural reform implementation.
Projects in the Marshall Islands
乐动体育注册No projects in this category were found.
- Preparing Urban Services Improvement Projects (Project Readiness Financing)
- Pacific Private Sector Development Initiative, Phase IV
- Pacific Region Infrastructure Facility Coordination Office-Leveraging Infrastructure for Sustainable Development
- Pacific Disaster Resilience Program (Phase 2)
- Public Financial Management Project (additional financing)