Australia Secures Veto Power in Nauru Pact

Australia has finalized a multimillion-dollar agreement with Nauru, granting it veto power over the island nation's external agreements, particularly those involving China. The treaty will provide AU$140 million (about $89 million) over five years to support Nauru's economy and enhance security, with AU$40 million specifically allocated for policing. Both Australian Prime Minister Anthony Albanese and Nauru President David Adeang emphasized the treaty's importance in bolstering mutual security interests and addressing regional challenges, particularly China's growing influence. The agreement resembles one made with Tuvalu earlier this year and aims to prevent external powers from gaining a foothold in the Pacific. The Commonwealth Bank of Australia will replace Bendigo Bank as the primary banking service starting in 2025, further solidifying Australia's economic presence in the region. This pact reflects a strategic effort by Australia to enhance regional stability while addressing the developmental needs of Nauru, which has a population of only 12,000.