The Republic of the Marshall Islands comprises over 1,000 islets and atolls in the North Pacific. The Marshall Islands joined ADB in 1990. The country’s economy heavily relies on fisheries and development assistance, including grants from the Compact of Free Association with the United States (the Compact). On 8 March 2024, the US government signed into law the 3rd Compact, a renewed 20-year agreement that allocates budget support and special funds.