Milestone Achievement: RERF Reaches $1.67 Billion

The Honorable Vice President and Minister of Finance and Economic Development, Dr Teuea Toatu, is pleased to announce that the Revenue Equalization Reserve Fund (RERF), Kiribati’s single most important sovereign wealth fund, has reached a significant milestone with its total value of $1.67 billion as of June 2025. This is the highest value that the RERF has reached since its establishment in 1956.

The value of the RERF when the Tobwaan Kiribati Party government took over in March 2016 was $744 million, and thus since then the RERF has grown by over 123% or over $900 million.

“This is a truly historic achievement of the RERF, especially as this happened against the backdrop of an extremely challenging global environment characterized by elevated market volatility, geopolitical tensions, and policy uncertainties that have adversely impacted the global economy”, said Dr Teuea Toatu.

Dr Toatu added that this exceptional achievement demonstrates, yet again, this government’s steadfast commitment to the prudent management of the RERF, with a sustained focus on achieving its ambitious goal of reaching a total value of $2 billion by 2027, as per its Motinnano.

As of June 2025, total withdrawals from the RERF since 2016 remained at a modest 7% of the fund’s total value, equivalent to $120 million.