Results for ADB

Financing agreements to extend the Pacific Region Infrastructure Facility (PRIF) for an additional four years have been signed by the Asian Development Bank (ADB), the governments of Australia, New Zealand and the United States, the European Investment Bank, the European Union, the Japan International Cooperation Agency, and the World Bank Group, at the PRIF Management Committee Meeting that was held on Wednesday in Suva. The PRIF will be based in Suva.

The Asian Development Bank (ADB) and the Government of Tonga signed a $10 million policy-based grant agreement today, 12 April, to help expedite economic recovery from disasters caused by natural hazards and health emergencies.

The quality of Tonga's water supplies will come into focus next week, when stakeholders come together for a workshop to look at water supply and sanitation management. The Water Safety Planning process will result in a Quality Risk Assessment for the Nuku’alofa Water Supply System. At a second workshop, the Ministry of Health and ADB, will present findings from a recent pilot study on Village Water Supply systems in Tongatapu.

Tonga faces permanent losses from sea level rise and is at risk from a seismic events, a new multi-hazard report finds. The 2023 Multi-Hazard Disaster Risk Assessment was launched by Tonga’s Deputy Prime Minister Hon. Samiu Vaipulu and the Minister of Finance, Hon. Tiofilusi Tiuteti, and ADB Disaster Risk Management Specialist, Alexandra Galperin on in Nuku’alofa on 6 July.

Growth in Tonga’s economy is projected to reach 2.5% in 2023 expanding further to 3.2% in 2024, according to the latest edition of the Asian Development Bank's economic report presented in Nuku'alofa today, 13 April. ADB Public Sector Economist, James Webb said, like its South Pacific neighbours, Tonga has faced an immensely difficult past three-years. Inflation is forecast to accelerate to 9.4% this year, with remittances providing some potential relief to households.

Grants of $16.5 million for the Blue Pacific Finance Hub, which aims to build ocean and coastal resilience in countries threatened by the impacts of climate change was announced by the Asian Development Bank with the Global Environment Facility and the Nordic Development Fund at COP27, in Egypt.

The contract to upgrade, rehabilitate and expand Tonga’s international port, Queen Salote Wharf was signed on 4 August between the Government of Tonga and McConnell Dowell Constructors Ltd of New Zealand.

A five-year strategy to help 12 smallest Pacific Island countries, including Tonga, build resilience against economic shocks, deliver sustainable services, and promote inclusive and sustainable growth, was endorsed by the Asian Development Bank (ADB).

A training series on Power Purchase Agreements for a Pacific Energy Regulators Alliance was launched by the Asian Development Bank on April 14.