Tonga Second Inclusive Growth Development Policy Operation: Supplemental Financing (WB-P167330)

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
Jun 15, 2018
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)
$ 10.00 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)
$ 10.00 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 Jun 19, 2018

Disclosed by Bank May 24, 2018


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Project Description

The project objectives are to

- Support fiscal resilience by means of strengthened revenue mobilization and strategic fiscal and debt policies;

- Support improved government accountability and private sector regulation by improving compliance with public procurement regulations, improving budgetary classifications, improving the adequacy of responses to external audit, and introducing new regulatory frameworks into selected sectors

- Support a more dynamic and inclusive economy by adopting investor friendly foreign investment legislation, extending coverage of the credit bureau, improving oversight and private participation in public enterprises, and introducing regulation to private sector labor markets.

Investment Description
  • World Bank (WB)
Contact Information
World Bank
Kim Edwards
kedwards1@worldbank.org
+612 9235 6536
 
Borrower/Client/Recipient
Balwyn Fa’otusia
+676 23066
Ministry of Finance and National Planning
Kingdom of Tonga
 
Implementing Agencies
Veiongo Fa’otusia
+67628120
Ministry of Finance and National Planning
Kingdom of Tonga

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 .