Intergenerational Trust Fund for the People of the Republic of Naoero

The Intergenerational Trust Fund for the people of the Republic of Naoero was established on 6 November 2015. The Fund was established to generate future investment earnings that can be used to provide a source of revenue to the Republic of Naoero post-2035 for investments in education, health, environment and infrastructure to replace dwindling phosphate royalty revenues. The fund will help to smooth out windfall income streams in the medium term and replace all or part or supplement volatile future revenue. The Investment Fund is administered by a Trust Fund Committee. 

The Nauru National Sustainable Development Strategy 2005-25 identified the creation of the Trust Fund as one of the seven strategies to create a stable macroeconomic environment, conducive to private investment in Naoero . The aim was to have a trust fund provide supplementary funds to the budget as of 2030. Parliament passed the Nauru Trust Fund Act 2012 to authorize the establishment of a trust fund.