Australia Signs $140 Million Deal with Nauru

Australia has signed a significant treaty with Nauru, pledging A$140 million ($100 million for budget support and A$40 million for policing) to bolster the Pacific island nation's security and economic resilience. This agreement grants Australia effective veto power over any foreign security or telecommunications arrangements Nauru might pursue, particularly aimed at countering China's influence in the region. Prime Minister Anthony Albanese and Nauruan President David Adeang hailed the treaty as a historic milestone that strengthens bilateral ties and enhances regional security. Australia will also ensure that Nauru has access to banking services through the Commonwealth Bank, which will replace Bendigo Bank starting in 2025. The treaty comes in response to Nauru's recent diplomatic shift towards China, reflecting Australia's commitment to maintaining its status as Nauru's primary security partner. The agreement is expected to come into force in 2025, pending ratification by both countries' parliaments.