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p. 74 of 95 BACK | NEXT Message from the Chairman of the Board of Directors Members, Capital Stock and Voting Power The Record Abbreviations 2004 in Review: Board of Directors' Report Special Theme: The Changing Face of the Microfinance Industry: Building Financial Systems for the Poor Part 1: Institutional Effectiveness Part 2: Poverty Reduction Strategic Priorities Thematic Priorities Regional Perspectives East and Central Asia Mekong The Pacific Cook Islands Fiji Islands Kiribati Marshall Islands Micronesia, Federated States of Nauru Palau Papua New Guinea Samoa Solomon Islands Timor-Leste Tonga Tuvalu Vanuatu South Asia Southeast Asia Part 3: Financial Statements: Management's Discussion and Analysis

Annual Report 2004 : Part 2: Poverty Reduction : The Pacific

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Tonga

Strategy and Policy Dialogue. In 2004, the Government of Tonga reiterated the commitment set forth in its seventh strategic development plan for 2001–2003 to improve living standards by focusing on maintaining a stable macroeconomic environment and achieving sustainable economic growth led by the private sector and supported by an efficient and effective public sector. The government is currently developing the eighth plan for 2005–2007. ADB's strategy supported the government's goals.

Key projects included (i) assistance to develop a new strategic development plan linked to a multiyear fiscal framework and to annual resource allocations; (ii) continued support for public enterprise reforms, especially the privatization of selected public enterprises; (iii) addressing youth unemployment and associated social problems; (iv) improving basic infrastructure for drainage and sanitation in selected areas in the capital, Nuku'alofa; and (v) agriculture sector development through an enhanced policy environment and development of SMEs.

Loans and Technical Assistance. No loans were approved, but three technical assistance grants amounting to $700,000 were approved in 2004. These were for youth microenterprise development; integrated strategic planning for a medium-term fiscal framework and budgeting; and rationalization of public enterprises.

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