Tonga First Fiscal, Disaster, and Climate Resilience Development Policy Operation with a Catastrophe Deferred Drawdown Option (WB-P179813)

Countries
  • Tonga
Geographic location 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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jan 19, 2024
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Tonga - Ministry of Finance
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Climate and Environment
  • 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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ WB website

Updated in EWS Apr 7, 2024

Disclosed by Bank Mar 9, 2023

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the proposed Development Policy Operation supports the Government of Tonga to: i) strengthen fiscal and debt sustainability. ii) enhance resilience to climate change and disasters.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

After accounting for mitigation measures, the overall risk level for the proposed program is moderate. The overall risk rating is justified based on extensive mitigation measures related to all key risks to the achievement of the PDO. Nevertheless, GoT’s weak institutional capacity and the nation’s high vulnerability to external shocks (including the risk of COVID-19 resurgence, natural disaster, climate-related, and macroeconomic shocks) mean that some residual risk to the operation remain.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

A PROPOSED DEVELOPMENT POLICY GRANT IN THE AMOUNT OF SDR18.7 MILLION (EQUIVALENT TO US$25 MILLION) COMPRISING A DEVELOPMENT POLICY GRANT OF SDR3.8 MILLION (US$5 MILLION EQUIVALENT) WITH A CATASTROPHE DEFERRED DRAWDOWN OPTION OF SDR14.9 MILLION (US$20 MILLION EQUIVALENT)


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

World Bank

Ekaterine T. Vashakmadze
Senior Economist

Borrower/Client/Recipient

Kingdom of Tonga
Tiofilusi Tiueti - Minister of Finance
minister@finance.gov.to

Implementing Agencies

Ministry of Finance
Kilisitina Tuaimei’api
Chief Executive Officer
ktuaimeiapi@finance.gov.to

ACCESS TO INFORMATION

To submit an information request for project information, you will have to create an account to access the Access to Information request form. You can learn more about this process at: https://www.worldbank.org/en/access-to-information/request-submission

ACCOUNTABILITY MECHANISM OF THE 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. Information on how to file a complaint and a complaint request form are available at: https://www.inspectionpanel.org/how-to-file-complaint

How it works

How it works