World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 


World Bank Supports Kiribati Economy

WASHINGTON, December 11, 2013 - The World Bank’s Board of Executive Directors today approved a US$5.2 million grant for the First Economic Reform Development Policy Operation to help strengthen the delivery of public services and improve the sustainability of public finances in Kiribati.

Kiribati faces many challenges that are unique to small island nations, including remoteness from markets, a widely dispersed population, and vulnerability to economic shocks,” said Franz Drees-Gross, Country Director for the World Bank in Timor-Leste, Papua New Guinea, and the Pacific Islands. “This operation will enable the Government of Kiribati to address some of the current economic challenges the country faces by supporting policies that promote long-term economic sustainability.“

The First Economic Support Development Reform Operation is the first of two planned operations for the Government’s Economic Reform Plan. These operations will provide finance directly to the budget. This first operation focuses on three key areas: increasing revenue through tax reform and administration of fisheries resources; improving the management of public assets and liabilities; and expanding private sector opportunities, including through reform of the telecommunication sector.

“We are committed to building a stronger economy with sustainable economic development that will allow us to continue to invest in critical services such as health and education,” said Hon. Tom Murdoch, Kiribati’s Minister of Finance and Economic Development. “This operation contributes to the implementation of our Economic Reform Plan, which will help Kiribati be better prepared to deal with future external pressures, such as economic shocks, natural disasters and the longer-term challenge of climate change adaptation.”

Kiribati is one of the most isolated countries in the world. Made up of 33 low-lying islands spread over 3.5 million square kilometres of ocean – an area the size of India - the population of around 100,000 people lives on 20 coral atolls and a single island.

The operation is funded through a US$5.2 million grant from the International Development Association (IDA), the World Bank’s fund for the poorest countries.

ENDS

© Scoop Media

 
 
 
 
 
World Headlines

 

Amnesty: Campaign Mass Hangings And Extermination At Syrian Prison

A chilling new report by Amnesty International exposes the Syrian government’s calculated campaign of extrajudicial executions by mass hangings at Saydnaya Prison. Between 2011 and 2015, every week and often twice a week, groups of up to 50 people ... More>>

Russian Hack Job?: White House - Actions In Response To Russian Malicious Cyber Activity & Harassment

President Obama authorized a number of actions in response to the Russian government’s aggressive harassment of U.S. officials and cyber operations aimed at the U.S. election in 2016. More>>


Israel/Palestine: Michael Field - Background To How Israel Nearly Went To War With New Zealand

New Zealand and Senegal managed to get the United Nations Security Council to pass resolution 2334 which said Israel’s settlements in Palestinian territory violate international law and undermine a two-state solution in Israel's conflict with Palestine. More>>

ALSO:

US Indigenous Affairs: How President Obama Has Protected Our Sacred Land

I am very proud to be both Navajo and American. As the President of the Navajo Nation, I’ve dedicated my life to ensuring that, as a Navajo, my story -- and our stories -- are part of our collective American history. Today, I want to share one of those stories with you. More>>


Binoy Kampmark: The Berlin Truck Attack And The Refugee Question

The hard-nosed neo-cons were certainly showing little interest in linking arguments, examining evidence, or even considering elementary logic in the aftermath of the Berlin truck attack near the Gedächtniskirche. With the bodies fresh in the morgue, former US ambassador to the United Nations, John Bolton, peered into the mind of the everyday German, and found teeth chattering fear. More>>

Demonetisation: Gordon Campbell On India’s Huge Socio-Economic Experiment

Without much coverage at all in the West, India has just been engaged for the past few weeks in one of the world’s biggest socio-economic experiments since the Cultural Revolution in China. More>>

Gordon Campbell: On The Death Of Fidel Castro

New Zealand likes to think we played our part – via the 1981 Springbok tour – in bringing the apartheid regime in South Africa to an end… Jacob Zuma treated the death of Fidel Castro at the weekend as an occasion to pay a heartfelt tribute to the thousands of Cuban soldiers who travelled across the world to inflict the first significant military defeat on the forces of white supremacy. More>>

ALSO:

Get More From Scoop

 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news