Australian support to the Government of Kiribati to implement their Economic Reform Plan assists Kiribati to maximise the benefits flowing from its natural resources as well as help to build greater economic resilience against external shocks.
Kiribati Growth and Economic Management Initiative
Up to $1 million annually
Australia's support is focused on activities that strengthen:
- public financial management through greater transparency in managing fisheries revenue, improved governance of the trust fund and better reporting and monitoring of public debt and contingent liabilities
- to create an environment for inclusive and private sector led growth, through expanding the coverage of essential public services (electricity, water, sewage and telecommunications) as well as reducing the costs and improving the quality.
Australia coordinates its support with other donors including the World Bank, the Asian Development Bank and New Zealand. Donors have agreed to focus support around achievement of a discrete set of economic reforms identified by the Government of Kiribati and to harmonise support. Australia has also agreed to use, wherever practical, World Bank assessments of reform progress.