The progress report of a 10-year Private Sector Development Initiative of the Asian Development Bank in its 14 Pacific development members vountries shows that Tonga has completed only five out of 55 initiatives in seven focus areas of the PSDI.

Strengthening the Retirement Fund Board by reviewing the Retirement Fund Board policies, was one of the five initiatives that Tonga has completed.

Tonga's other four Initiatives are:

• Under the State-Owned Enterprise SOE Reform, the SOE Policy formulation has been completed.
• Under the Business Law Reform, the Multiple business entity registry (companies, business licenses, and business names – Design and implementation of the registry has been completed.
• Under the Economic Empowerment of Women – project design and implementation.
• Mentoring has also been completed.

The Pacific Private Sector Development Initiative (PSDI) has been working to improve the lives of Pacific people.

The Asian Development Bank ADB 10-year PSDI from 2007-2016 focused on seven Focus Areas with a budget allocation of $3,700,089. Allocations for each Focus Area were:

1. Business Law Reform -  $1,183,850
2. Analytical Work and Crosscutting, $829,407
3. State-Owned Enterprise Reform, $707,756
4. Financing Growth, $566,446
5. Public-Private Partnerships, $210,122  
6. Economic Empowerment of Women $121,010
7. Competition and Consumer Protection -  $28,881

The ADB during 2015-2016 allocated $334,092 on four Focus Areas:

• Financing Growth – $99,130
• Economic Empowerment of Women – $88,656
• State-owned Enterprise Reform – $58,043
• Competition and Consumer Protection – $28,881

The member countries are: Cook Islands, Fiji, Kiribati, Marshall Islands, Federated States of Micronesia, Nauru, Palau, Papua New Guinea, Samoa, Solomon Islands, Timor-Leste, Tonga, Tuvalu and Vanuatu.

The program was co-financed by the Governments of Australia and New Zealand.