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SOLOMON ISLANDS

Solomon Islands is the third largest archipelago in the South Pacific, comprising of 992 islands and covering a sea area of more than 1.35 square kilometers. Eighty-five percent of a total population of just over 500, 000 lives in rural areas. The country experienced a low-level conflict between 1998 - 2003 which saw displacement and the stagnation of state functions. The Australian-led Regional Assistance Mission to Solomon Islands (RAMSI) has successfully managed law and order in the last eight years, and the government is leading a national process of peace and reconciliation. However the recovery is fragile. The Solomon Islands economy has performed well in 2010 and the economic outlook is for growth to strengthen to as much as 7 percent in 2011. However natural forest logging, which has been the leading export for decades, is projected to decline steeply by 2015. Mining, fisheries, and tourism all stand to offset but not fully replace the revenue and export losses from logging. Currently there is only one operating gold mine. Positioning the economy for long-term growth will require strong management of mining revenues as well as efforts to maximize Solomon Islands’ returns from the natural resource industries. Long term challenges include improving service delivery for a growing population, better management of urbanization, improving fiscal management and public sector performance, and improved oversight in the management of extractive industries. The World Bank is focused on rural development; increasing access to affordable energy; providing training and employment opportunities to disadvantaged youth and women; and supporting Government's fiscal and economic reforms through policy dialogue and budget support.