Building Macroeconomic Resilience Subprogram 2 (ADB-48361-002)

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
Canceled
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 29, 2017
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 Kingdom of Tonga, Ministry of Finance and National Planning
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant, Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 16.30 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 6.10 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Grant Amount (USD)
$ 10.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Oct 14, 2017

Disclosed by Bank May 29, 2017


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Project Description
According to ADB website, the program aims to strengthen Tonga's long-term growth prospects and capacity to respond to external shocks. The programmatic approach, with three subprograms during 2016 -2018, builds on previous policy-based operations of the ADB and other development partners that sustain government efforts to improve (i) its fiscal position by adopting prudent policies and better public financial management (PFM), and (ii) the business climate by continuing policy, regulatory environment, and public enterprise reforms.
Investment Description
  • Asian Development Bank (ADB)
Contact Information
Project Officer: Basu, Ananya Pacific Department No contact information provided at the time of disclosure. 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