The Naoero Trust Fund (NTF) has reached a balance of AUD$479 million, marking a significant milestone as the Fund enters its tenth full year of operation. Chairing the Fund’s 40th Quarterly Committee Meeting in Melbourne on 2 June, His Excellency President David Adeang said the NTF had exceeded initial projections and continues to provide a strong foundation for Naoero’s long-term financial security.
Established in 2015, the NTF was designed to reduce Naoero’s reliance on donor funding and provide future generations with lasting financial stability. President Adeang, who was Minister for Finance when the Fund was created, said its unique governance structure—requiring unanimous agreement from all four contributing partners before any withdrawal or movement of funds—ensures the Fund remains protected for future dei-Naoero.
Prior to the committee meeting, President Adeang met with the Dei-Naoero community in Victoria to discuss the Fund’s purpose and performance. While acknowledging global economic uncertainties, including impacts from the current Middle East crisis, he expressed confidence in the Fund’s long-term growth and said that even when withdrawals become available from 2035, the Fund should continue to grow unless there is a genuine need to access it.
We thank Australia and New Zealand for their continued contribution. The Government of Naoero is allocating 10 per cent of its annual budget to the NTF, reinforcing its commitment to securing the nation’s economic future.
