Grant to Boost Pacific Economic Growth

News Release | 15 December 2009

MANILA, PHILIPPINES - The Asian Development Bank (ADB) and the Government of Australia today announced a US$12 million grant package which aims to improve the business environment and stimulate private sector investment in the Pacific region.

The package, comprising grants of around $9 million from the Australian Government, and $3 million from ADB's Technical Assistance Special Fund, will improve access to financial services, increase private investment opportunities through state-owned enterprise (SOE) reform and public-private partnerships, and facilitate expansion of the private sector through reform of business laws.