Sustainable and Inclusive Economic Recovery Program, Subprogram 2 (PBL) (ADB-56284-002)

Regions
  • East Asia and Pacific
Geographic location where the impacts of the investment may be experienced.
Countries
  • Kiribati
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Closed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Nov 28, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Kiribati - Ministry of Finance and Economic Development
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 24.20 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Media Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Apr 21, 2026

Disclosed by Bank Dec 10, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the Sustainable and Inclusive Economic Recovery Program, Subprogram 2 is designed to support the Government of Kiribati in three key policy reform areas: (i) public financial management and fiscal sustainability; (ii) finance and private sector development; and (iii) protection of environmental resources for inclusive growth. This second subprogram introduces new policy actions that further strengthen the strategic policy and legal frameworks established in Subprogram 1. These enhancements include legal reforms aimed at improving domestic resource mobilization. The program is cofinanced by the European Union, the Governments of Australia and New Zealand, and the World Bank, ensuring a collaborative effort towards sustainable growth and development in Kiribati.

This second subprogram builds on the reforms under subprogram 1, which laid the foundation to support sustainable and inclusive growth under the three reform areas. Policy actions under reform area 1 reduce macrofiscal risks, increase domestic revenues, and promote more efficient use of public resources for delivering services. These are complemented by actions under reform area 2, which promote a more vibrant private sector capable of delivering jobs and growth, and improve women's workforce participation as a catalyst for growth. Policy actions under reform area 3 support not only the sustainable use of natural resources, which is necessary for resilient and inclusive long-term development, but also the development of the local industry to engage in job-creating investments and sustainable revenue-generation activities.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

In compliance with ADB’s Safeguard Policy Statement (2009), the program is classified category C for environment, involuntary settlement, and Indigenous Peoples. The program is not expected to have any adverse environmental or social safeguard impacts as defined in ADB’s Safeguard Policy Statement.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Asian Development Fund grant: US$ 10.00 million

Cofinancing:
European Union - Programmatic Approach Policy-Based Lending (Grant) (Not ADB Administered): US$ 1.70 million
Government of Australia - Programmatic Approach Policy-Based Lending (Grant) (Not ADB Administered): US$ 0.70 million
Government of New Zealand - Programmatic Approach Policy-Based Lending (Grant) (Not ADB Administered): US$ 1.80 million
World Bank - Programmatic Approach Policy-Based Lending (Grant) (Not ADB Administered): US$ 10.00 million


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

For the Recipient:

Ministry of Finance and Economic Development
P.O. Box 67, Bairiki
Tarawa, Kiribati

For ADB:

Asian Development Bank
6 ADB Avenue
Mandaluyong City
1550 Metro Manila
Philippines
Facsimile Numbers: (632) 8636-2444

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.

How it works

How it works