Government announces additional $8 million of funding for Nauru over three years

The Government has announced it will increase funding to the small Micronesia island country of Nauru by $8 million over three years.

In a statement today Foreign Affairs Minister Winston Peters says this will result in an increased indicative budget of $18.5 million over three years.

"This year marks 50 years of independence for Nauru. As New Zealand is looking to reset relationships in the Pacific, it is an opportune time to reconsider our relationship with Nauru and look to deepen our long-term relevance and influence," said Mr Peters.

He outlined the benefit that he believes the investment will bring to New Zealand.

"New Zealand remains committed to development cooperation with Nauru that promotes regional values and aims to support development outcomes that are sustainable and broadly-based.

"The wellbeing and security of our Pacific neighbourhood is critical to New Zealand’s own wellbeing and future," said Mr Peters.

Nauru has a population of 11,260 according to statistics from UN's World Population Prospects.

Nauru Island. Source: Supplied