14 March 2012: The Asian Development Bank has announced a new five-year partnership strategy with the Government of the Solomon Islands, focusing on reducing poverty and promoting inclusive growth through improving transport, information and communications technology (ICT), renewable energy uptake, and public sector management.

The 2012-2016 Country Partnership Strategy (CPS) includes both concessional loans and technical assistance, and is closely aligned with the Solomon Islands National Development Strategy 2011-2020, which seeks to promote private sector-led inclusive economic growth.

Under the CPS, the ADB will continue to support implementation of the National Transport Plan, which aims to reduce economic isolation by improving access for people in rural and remote areas, and promote employment for community groups and unemployed youth.

ADB is also providing assistance to strengthen the enabling environment for business, and expanding access to financial services for farmers and business owners. In addition ADB, will assist the Solomon Islands in providing affordable power to the outer island, and lower the cost of broadband internet to facilitate economic diversification. [ADB Press Release]