The Asian Development Bank ADB and the Government of Tonga on Wednesday, 1 December signed a $5 million Grant Agreement “to help restore and accelerate private sector-led economic growth in Tonga after the COVID-19 pandemic”.

The agreement was jointly signed by the  ADB Pacific Department Deputy Director General Emma Veve and Tonga’s interim Minister of Finance, Hon. Tevita Lavemaau.

“The ADB supported grants will help expedite the Government of Tonga’s ongoing reforms, while providing much-needed budget support,” said Hon. Lavemaau. “Strengthening fiscal management will be absolutely critical during the COVID-19 recovery phase.”

“The reform program is expected to spur inclusive private sector-led economic growth in Tonga,” said Ms Veve. “The government’s continued investments in strengthening its economy and systems and building economic resilience will result in a more progressive Tonga supporting a higher quality of life.”