The Cook Islands have developed “quite a bit” in terms of disaster-risk recovery and preparedness in terms of financial instruments, says deputy prime minister Mark Brown.
With their far-flung territories and distance from global economic hubs, the Pacific islands face significant hurdles in delivering social and infrastructure services to their people. Adding to this challenge are these countries’ narrow economic bases, which limit their ability to collect domestic revenues; their reliance on mostly imported inputs; and their vulnerability to disasters and extreme climate change, the impacts of which can drive up public spending.
The Cook Islands has joined four key copyright treaties with the World Intellectual Property Organisation after handing “instruments of accession” to its director Francis Gurry.
A team from the Asian Development Bank (ADB) is in the country to inspect some residential and commercial properties in an effort to improve disaster risk reduction.
Demand for assistance across the Pacific and Asia continues to grow in the past year with the Asian Development Bank’s annual report showing new commitments of $21.6 billion in loans, grants, and investments from the bank’s own resources.
In a bid to rescue the ailing oceans of the world – particularly our Pacific waters – the Asian Development Bank has launched a $5 billion action plan to save the blue continent.