Republic of Nauru Joins World Bank
April 12, 2016
WASHINGTON, April 12, 2016 – The World Bank today welcomed its newest member, the Republic of Nauru.
The Pacific Island nation became the 189th country to join the World Bank Group, after Nauru’s Minister for Finance, Sustainable Development and Justice David Adeang formally signed articles of agreement of the International Bank for Reconstruction and Development.
With a population of about 10,000 and a land area of 21 square kilometers, Nauru is the smallest state in the South Pacific. It is the World Bank’s smallest member by land mass.
Nauru faces challenges in sustaining growth and ensuring fiscal and debt sustainability over the medium term – challenges faced by many of the nation’s Pacific Island neighbors.
World Bank membership will enable the Government of Nauru to access World Bank technical assistance– including areas in which the World Bank has expertise in the Pacific, such as water and sanitation, public financial management, transport and disaster risk management. Nauru is also eligible for financial support from World Bank-administered trust funds.