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.
