Asian Development Bank (ADB) President Masato Kanda met with Vanuatu Prime Minister Jotham Napat in Port Vila on 18 February 2026 to celebrate the long-standing development partnership between ADB and Vanuatu and to advance the country’s agenda to scale up private sector investment. President Kanda highlighted ADB’s support for Vanuatu’s economic resilience, which is underpinned by an active sovereign portfolio of $186 million across 12 ongoing projects.
During the visit, President Kanda emphasized that the 45-year partnership between ADB and Vanuatu is rooted in mutual trust and a shared ambition to build a resilient and sustainable future. He reaffirmed ADB’s commitment to supporting Vanuatu’s vision for equitable growth driven by a vibrant private sector, deploying innovative financial tools to unlock critical investments.
A key milestone of the visit was the signing of the financing agreement for the Tamtam Submarine Cable Project, the first transaction under ADB’s new Wayfinder Program. The program is designed to accelerate private sector development across the Pacific by using blended concessional finance to de-risk projects and attract private investment.
In discussions with Deputy Prime Minister and Minister of Finance and Economic Management Johnny Koanapo Rasou, President Kanda praised Vanuatu’s strong macroeconomic management and its swift response to the December 2024 earthquake, which caused an estimated $197 million in damages. To support recovery, ADB deployed approximately $50 million in grants, including funds from the Asian Development Fund, to maintain essential services and aid affected communities.
The visit also included a tour of a multipurpose emergency shelter under construction in Port Vila’s Seaside Market, part of the Greater Port Vila Urban Resilience Project. This facility is one of three shelters financed by ADB to protect vulnerable urban communities from natural hazards and climate-driven events, ensuring residents have reliable safe havens during extreme weather.
ADB’s Asian Development Fund, supported by multiple donors, provides grants to the region’s poorest and most vulnerable countries. Between 2021 and 2024, the fund helped 384,000 people lift themselves out of poverty and generated approximately 500,000 jobs.
Founded in 1966 and owned by 69 members, 50 of which are from the Asia-Pacific region, ADB is a leading multilateral development bank that supports inclusive, resilient, and sustainable growth. It works with its members and partners to address complex development challenges, leveraging innovative financial tools and strategic partnerships to build quality infrastructure, transform lives, and safeguard the environment.
