Asian Development Bank (ADB) President Masato Kanda met today with Vanuatu Prime Minister Jotham Napat to celebrate a long-term partnership for development and acknowledge Vanuatu’s ambition to scale up private investment. During the meeting, Mr. Kanda highlighted ADB’s ongoing support for the country’s economic resilience, underpinned by an active sovereign portfolio of $186 million across 12 projects.
“For 45 years, ADB and Vanuatu have built a partnership rooted in mutual trust and a shared ambition to overcome challenges and build a more resilient future,” said Mr. Kanda. “We stand fully behind Vanuatu’s vision for equitable and sustainable growth driven by a vibrant private sector. We are deploying innovative financial tools to unlock the critical investments needed to make that vision a reality.”
Highlighting this commitment, Mr. Kanda witnessed the signing of the financing agreement for the Tamtam Submarine Cable Project. The project is the first transaction under the new Wayfinder Program, which aims to accelerate private sector development across the Pacific using blended concessional finance to de-risk projects and attract investors.
In discussions with Deputy Prime Minister and Minister of Finance and Economic Management Johnny Koanapo Rasou, Mr. Kanda commended the government’s prudent macroeconomic stewardship and its response to the December 2024 earthquake, which caused an estimated $197 million in damages. To support these recovery efforts, ADB swiftly deployed approximately $50 million in grants, including from its Asian Development Fund, to help maintain essential services.
Mr. Kanda’s visit will also include a tour of a multipurpose emergency shelter under construction in Port Vila’s Seaside Market, demonstrating ADB’s focus on protecting urban communities from natural hazards. The facility is one of three shelters financed under the Greater Port Vila Urban Resilience Project to ensure vulnerable residents have a reliable safe haven during extreme weather events and climate-driven crises.
ADB’s multi-donor-financed Asian Development Fund provides grants to the poorest and most vulnerable countries in Asia and the Pacific. During 2021–2024, the fund helped 384,000 people emerge from poverty and generated around 500,000 jobs.
ADB is a leading multilateral development bank supporting inclusive, resilient, and sustainable growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.
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