Samoa - Economic development

The government has consistently stressed diversification of agriculture. It has also sought through a series of plans to promote growth in manufacturing, forestry, fishing, hydroelectric power, and tourism, which received a boost when the Falento Airport got a new terminal and runway extension in 1985. In 1989, an offshore banking center was launched. New Zealand, Australia, the United States, the Asian Development Bank, and the EC are major sources of development aid, and recently, Japan and Germany have provided technical and financial aid. Assistance from the UN family of organizations totaled US $2.6 million in 1991. The country's fifth development plan (1985–87) called for an investment of ws$146.9 million, S 114.2 million of it from external sources. Investment increased significantly in 1990 and 1992, mainly due to increased public capital expenditure. External aid has been a major source of public investment financing, providing approximately 68% of capital expenditure in 1991 and 47% in 1992.

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martin masoe
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Sep 30, 2013 @ 2:14 pm
What are the effects of economic developments on the changing face of Apia?

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