World Bank approves US$5m for Tonga
The World Bank’s Board of Executive directors on April 27 approved US$5 Million to support Tonga’s Second Inclusive Growth Development Policy Operation.
Tonga’s Second Inclusive Growth Development Policy Operation aims to:
- Deliver more competitive and transparent public procurement
- Introduce and monitor budget targets to help ensure fiscal sustainability
- Improve the management of Government Spending on wages
- Prepare a new regulatory framework for the energy sector
- Design more simple and transparent procedures to attract foreign investment and encourage private sector participation in public enterprises.