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Niue and ӯƱ

ӯƱs operations in Niue will be guided by the Pacific Approach, 2021C2025, which will serve as the country partnership strategy for the banks 12 small Pacific island countries.

In the Spotlight

Pacific Economic Monitor C July 2020

30 Jul 2020 | Publication

Pacific Economic Monitor C July 2020

Most Pacific island countries appear to have avoided direct health impacts from the coronavirus disease (COVID-19). Yet, the pandemic highlights the need to strengthen their health and social protection systems.

Urgent Action Needed to Support Pacific Health Systems and Economies  ӯƱ

30 Jul 2020 | ӯƱ Release

Urgent Action Needed to Support Pacific Health Systems and Economies ӯƱ

The COVID-19?pandemic is highlighting the critical need to support health and social protection systems in the Pacific region, according to the latest issue of the ӯƱ's?Pacific Economic Monitor?launched today.

ӯƱ's Investment for Building Urban Resilience in Pacific to Hit $900 Million

17 Jul 2020 | ӯƱ Release

ӯƱ's Investment for Building Urban Resilience in Pacific to Hit $900 Million

ӯƱ?and cofinancing partners investment to make Pacific towns and cities more livable through improved essential services is poised to reach $900 million by the end of 2022, according to a new report.

ӯƱ President, Niue Premier Discuss COVID-19 Response

08 Jul 2020 | ӯƱ Release

ӯƱ President, Niue Premier Discuss COVID-19 Response

ӯƱ?President Masatsugu Asakawa and the Premier of Niue Dalton Tagelagi today discussed how ӯƱ can continue to support the country as it mitigates the impacts of the COVID-19?pandemic.

Overview

Fiscal discipline, along with large and predictable inflows of overseas development assistance, have helped to ensure macroeconomic stability in Niue. In April 2019, just one month after Niue joined the bank, ӯƱ committed a technical assistance project to support improved public financial management in the country.

ӯƱ Release

ӯƱ Membership

Joined 2019

Shareholding and Voting Power

Number of shares held:
150 (0.001% of total shares)

Votes:
39,264 (0.295% of total membership, 0.453% of total regional membership)

Overall capital subscription:
$2.07 million

Paid-in capital subscription:
$0.11 million

ӯƱ's Work in Niue

In March 2019, Niue became the 68th and most recent member of ӯƱ.

Niue faces significant challenges in achieving sustained social and economic development. It is one of the smallest countries in the world, with an estimated population of just 1,520 in 2018. In proportionate terms, Niue has experienced the largest population decline of any country in recent history. The resident population of the island was reported as 5,194 in 1966.

Tourism development has been the main driver of economic growth in Niue. Improved flight connectivity, investment in accommodation facilities, and a coordinated marketing campaign have seen visitor arrivals rise from around 2,000 in 2005 to about 11,500 in 2017. At around eight visitors for every resident, this translates into one of the highest tourist-to-population ratios globally.

Fiscal discipline, along with large and predictable inflows of overseas development assistance, have helped to ensure macroeconomic stability in Niue. The countrys development has particularly benefited from its close relationship with New Zealand, which provides significant technical and financial assistance.

ӯƱ-Supported Projects and Programs

In April 2019, just one month after Niue joined the bank, ӯƱ committed a technical assistance project to support improved public financial management in the country. Using the 2016 Public Expenditure and Financial Accountability framework, ӯƱ will provide the necessary expertise to assess the Government of Niues financial management systems, prepare a road map for strengthening those systems, and develop measures to improve accounting and financial reporting of public expenditure.

ӯƱ is also supporting a feasibility study to address operational and safety issues at the Alofi wharf, Niues main port, and at the boat ramps of Avatele and Namukulu. The study will provide the groundwork for improvements to the wharf and boat ramps, which will enhance the countrys regional connectivity and maritime asset resilience.

Niue participates in ӯƱs regional conferences and training programs to access regional best practice and improve the capabilities of its development practitioners. The country will also benefit from regional technical assistance projects covering areas such as public sector management, private sector development, and infrastructure development.

Nonsovereign Operations

As a catalyst for private investments, ӯƱ provides financial assistance to nonsovereign projects and financial intermediaries. Total commitments from ӯƱs own funds (in equity and direct loans) in 2019 amounted to $3.00 billion for 38 transactions in economic and social infrastructure, the finance sector, and agribusiness. ӯƱ also actively mobilizes cofinancing from commercial and concessional sources. In 2019, ӯƱ mobilized $3.28 billion of long-term cofinancing and $3.69 billion of cofinancing in trade finance, microfinance, and supply chain finance programs. Total outstanding balances and commitments of nonsovereign transactions funded by ӯƱs own resources stood at $13.78 billion as of 31 December 2019.

Future Directions

ӯƱs operations in Niue will be guided by the Pacific Approach, 2021C2025, which will serve as the country partnership strategy for the banks 12 small Pacific island countries.

This article was originally published in the ӯƱ and Niue: Fact Sheet. Updated yearly, this ӯƱ Fact Sheet provides concise information on ӯƱ's operations in the country and contact information.

Contact

Pacific Subregional Office (SPSO) - Asian Development Bank (ӯƱ)

91 Gordon Street
Suva, Fiji

??Office Hours: 8:00 a.m. to 5:00 p.m. (Monday to Friday)

? Tel +679 3318101
? Fax +679 3318074
? E-mail