The Asian Development Bank (ADB) has agreed to provide $4.5 million from its Asian Development Fund to support the Government of Tonga's efforts to achieve fiscal stability and improve the country's long term growth prospects:

Description

This funding builds on successful government efforts to improve public sector financial management, expand Tonga's revenue base, strengthen the governance and management of its state-owned enterprises, and improve the overall business climate. The program will improve program budgeting, introduce small business and deep sea mining tax regimes, partially privatize the government-owned hotel, strengthen corporate governance measures and improve the insolvency regime, which will help businesses and creditors to better manage their risks.

Amount 

$4.5 million from the concessional Asian Development Fund.
 

 
This page was generated from http://www.adb.org/news/briefs/tonga-policy-based-grant-public-sector-financial-management on 28 May 2015