Tonga Second Inclusive Growth Development Policy Operation (WB-P159262)

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
Active
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
Apr 27, 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 Tonga
The holder of the loan, grant, or other investment.
Sectors
  • Law and Government
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 5.00 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)
$ 5.00 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 26, 2017

Disclosed by Bank Dec 9, 2016


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Project Description
The Program Development Objective is to: i) Support fiscal resilience by means of strengthened revenue mobilization and strategic fiscal and debt policies; ii) pursue inclusiveness and government accountability by improving compliance with public procurement regulations, improving the adequacy of responses to external audit, and introducing new regulatory frameworks into selected sectors; and iii) support a more dynamic and inclusive economy by adopting investor-friendly foreign investment Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized legislation, extending coverage of the credit bureau, and improving oversight and private participation in public enterprises. Supported reforms will improve fiscal resilience, support a modern and accountable state and support a more dynamic and inclusive economy. To support fiscal resilience, policy actions in this operation include strengthening of revenue collection through excise tax increases; a new rules-based fiscal strategy; and the implementation of a public sector remuneration review. To support an inclusive, modern and accountable state, this operation supports policy actions that introduce a new procurement tracking system; and a new multi-sector regulator policy. To support a more dynamic and inclusive economy, the operation supports revised foreign investment legislation, regulations to support credit reporting and the commercialization of at least one public enterprise. The programmatic DPO series is designed to set the foundations for achievement of key national outcomes under the Government’s TSDF. The series as a whole will support national outcomes one to five under the TSDF. Fiscal and economic management reforms under pillar one will support the government’s inclusive development priority, and improve the identification and resourcing of key public service delivery. Pillar two will support more responsive and effective government systems and delivery of key utility and infrastructure services for all of Tonga. Pillar three will support the preconditions for more dynamic, inclusive and sustainable growth. These supported outcomes are those which are associated with the comparative advantage of development policy programming, while other outcomes are being supported by investment operations and technical assistance by the World Bank and by other development partner programs.
Investment Description
  • World Bank (WB)
Contact Information
Mr Aholotu Palu Acting Chief Executive Officer, Ministry of Finance and National Planning Tel: +676-23066 Email: aholotupalu@yahoo.co.uk 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.