Asian Development Bank Member Fact Sheet: Tuvalu Updated March 2022
Asian Development Bank | March 2022
Abstract
Tuvalu is a small island developing state comprising nine atolls in the South Pacific. It is geographically isolated and highly vulnerable to climatic and economic shocks. With a small private sector and limited resources to support socioeconomic development, the public sector is its main driver of growth.
Tuvalu depends on fishing license fees, trust fund investments, official development assistance, and remittances for foreign currency earnings. Disasters triggered by natural hazards, such as cyclones and king tides, increase the country’s economic volatility and can substantially alter fiscal outcomes.
Tuvalu has been a member of the Asian Development Bank (ADB) since 1993. ADB’s assistance has concentrated on improving macroeconomic growth and stability, advancing renewable energy, upgrading transport assets, expanding health coverage, and building disaster resilience.
Citation
Asian Development Bank. 2022. Asian Development Bank Member Fact Sheet: Tuvalu Updated March 2022. © Asian Development Bank. http://hdl.handle.net/11540/14889. License: CC BY 3.0 IGO.Keywords
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