The Asian Development Bank (ADB) has approved the following technical assistance:
State-owned enterprises (SOEs) make up a significant portion of Fiji's economy, with combined assets accounting for 22% of GDP. From 2002-2009, Fiji's SOEs generated profits of just $18.6 million, far less than the government's investment of $23.6 million. Better SOE services in power, water and telecommunications can help to improve livelihoods and raise living standards, particularly for the poor. This technical assistance will help the Ministries of Finance and Public Enterprises to accelerate the pace of reform implementation, which will, in turn, facilitate economic growth and job creation. A coordinated and sequenced plan for reform implementation will be prepared, which will include good practice guidelines for reorganization, corporatization, increased commercialization, privatization, and outsourcing, and one SOE will be selected as a pilot for reform.
$500,000 grant from ADB's Technical Assistance Special Fund (TASF-other sources),