Early Warning System

Countries

Nauru

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

Active

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

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

May 9, 2022

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 Nauru

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Climate and Environment
Transport

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)

$ 15.00 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)

$ 15.20 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

Other Related Projects

Primary Source

Original disclosure @ ADB website

Updated in EWS Feb 14, 2023

Disclosed by Bank May 9, 2022

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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 website "new port will provide the sheltered shoreside berthing facilities and year-round maritime transport operations that Nauru has lacked, and greater protection against the future effects of climate change. Average berthing stays will be reduced from about 21 days to 3 days for container ships, and from 4 days to 1 day for fuel tankers. The improved climate-resilient port facilities will attract higher numbers of international fishing vessels, which will increase Nauru's revenues from transshipment operations. More shipping lines will be willing to include Nauru on their routes once it has a safer and more reliable port. This will open new opportunities for the country to expand its exports, diversify its economy, and compete with other regional transshipment hubs"

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.

Responsible ADB Officer: Indrawansa, P.P.G.P.P.
Responsible ADB Department: Pacific Department
Responsible ADB Division: Pacific Liaison and Coordination Office in Sydney, Australia
Executing Agencies:
Department of Finance

novenaii@gmail.com

Yaren District, Republic of Nauru,
Central Pacific
Department of Finance

Yaren District, Republic of Nauru,
Central Pacific