Building Macroeconomic Resilience Subprogram 1 (ADB-48361-001)

Countries
  • Tonga
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 30, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Tonga
The holder of the loan, grant, or other investment.
Sectors
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 6.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 13.80 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Aug 2, 2017

Disclosed by Bank Sep 29, 2016


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Project Description
The Building Macroeconomic Resilience Program comprises three subprograms from fiscal year 2016 to 2018, supporting policy reforms to (i) increase fiscal resilience; (ii) build an inclusive, modern, and accountable state; and, (iii) support a more dynamic and inclusive economy. Subprogram 1 includes a fourth output to support the effective response to disasters, with $1 million disaster financing provided for activities in response to Tropical Cyclone Winston. All policy actions under subprogram 1 are completed and the subprogram was closed by 30 June 2016.
Investment Description
  • Asian Development Bank (ADB)
Cofinancing: Government of Australia US$ 3.00 million World Bank (Grant) US$ 1.00 million World Bank (Loan) US$ 1.00 million European Union US$ 2.80 million
Contact Information
Ministry of Finance and National Planning Vuna Road Nuku'alofa Kingdom of Tonga ACCOUNTABILITY MECHANISM OF ADB The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main