Niue has become the Asian Development Bank’s latest member.
The Board of Governors of the Asian Development Bank has approved the membership of Niue as the bank’s 68th overall member and 49th from the Asia and Pacific region.
The Asian Development Bank is an international development finance institution dedicated to reducing poverty in Asia and the Pacific through assisting its members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development.
“We welcome Niue as ADB’s newest member. This new relationship will bring Niue into the development community and help ADB to work closely on building and strengthening economic growth that benefits all Niueans,” said ADB President Takehiko Nakao.
The Niuean Government applied for membership in the Asian Development Bank last year where the Premier traveled to Manila, Philippines to hold talks with board members and the ADB President.
The Premier has stated if the application is successful, this is a historical step for Niue. The Government had applied two times before and were unsuccessful in both times.