Tonga First Inclusive Growth Development Policy Operation (WB-P155133)

Countries
  • Tonga
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
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
U
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
Mar 16, 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
Kingdom of Tonga
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Infrastructure
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 2.00 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)
$ 2.00 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 @ WB website

Updated in EWS Jul 19, 2017

Disclosed by Bank Dec 1, 2015


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Project Description
This project finances i) tax policy and risk-based compliance reforms to support progressive revenue mobilization; ii) a strategic medium-term debt management framework and fiscal anchoring system; iii) implementation of a new public sector remuneration framework to ensure adequate pay and fiscal sustainability; iv) procurement and financial management reform; v) reforms to enhance external audit effectiveness; vi) regulatory reform in telecoms and utilities to support competitive practices and pricing; labor market regulatory reform; vii) reform to support foreign investment; viii) launch of a new program of Public Enterprise reform. These reforms aim to support inclusive development, improve governance, and improve delivery of key public services and infrastructure services for Tonga.
Investment Description
  • World Bank (WB)
Contact Information
World Bank Contact: Mr David Knight Title: Economist Tel: +61-2-9235-6563 Email: dknight1@worldbank.org Location: Sydney, Australia Borrower Contact: Mr Tatafu Moeaki Title: Chief Executive Officer, Ministry of Finance and National Planning Tel: +676-23066 Email: secretary@finance.gov.to ACCOUNTABILITY MECHANISM OF WORLD BANK The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.