A new agreement between Nauru and the United States is expected to provide access to the full range of investment support offered by the US.
US Ambassador to Fiji Joseph Cella and his Nauruan counterpart Michael Aroi. Photo: Supplied/US Embassy, Fiji
The investment incentive agreement was signed by US ambassador Joseph Cella and Nauru High Commissioner Michael Aroi in Suva on Thursday.
The support is being offered by the US International Development Finance Corporation formerly known as the Overseas Private Investment Corporation (OPIC).
Aroi thanked the US saying Washington's support has boosted the two countries' trade partnership.
Aroi said Nauru was also working on a project to install a submarine cable for broadband connection.
"That investment would make a huge difference to Nauru's trade capabilities.
"We see right opportunities in working with the US in pursuing other opportunities especially in infrqastructure development to address the impacts of climate change and in modernising our digital connectivity."
Aroi said Nauru had prioritised moving its "infrastructure to higher ground to address the threats of climate change and sea-level rise".
He said the project was immense and Nauru looked to its trading partners such as the US to assist.
According to Cella, the trade between Nauru and the US grew to $US5 million last year from $US2.2m in 2015.
Cella said trade between both countries hit $US3.5m at the end of the third quarter this year.
The Nauru-US agreement would continue to build an economic bridge between both nations, he said.
"To facilitate access and trade between United States and Nauru and creates opportunities.
"So within Nauru, there is significant infrastructure development aid, also in climate change resilience, the ICT connectivity, renewable energy and healthcare."