9 Feb 2006

ADB provides soft loan to encourage growth on Kiritimati island in Kiribati

4:33 pm on 9 February 2006

The Asian Development Bank is to provide ten million US dollars in loans to address social concerns and health threats in Kiribati over the next two years.

The concessional loan will be offered for a Kiritimati Island Growth Centre project.

Kiritimati, the world's largest atoll, occupies half of Kiribati's land area and is seen as a possible solution to the overcrowding in South Tarawa.

The ADB plan is to help with the construction of the key infrastructure needed to promote economic growth.