Results for ADB

A two-day Holiday Market Festival Thursday and Friday, at the Tonga Development Bank in Nuku'alofa showcased products of the bank's customers in a Microfinance Scheme and attracted Christmas shoppers. The scheme aims help improve the incomes of the 22.1% of Tonga’s population who live below the National Poverty Line.

Forecasts for economic growth in 2018 for Tonga remain negative at -0.3% a report by the Asian Development Bank (ADB) shows.

The Asian Development Bank has approved a $2.75 million loan and a $2.25 million grant to help Tonga strengthen it’s long-term economic growth prospects, while supporting and developing its capacity to respond to external economic shocks.

Some 22.5% of Tonga’s population - or over 23,200 people live below the national poverty line, according to the Asian Development Bank's latest statistics released yesterday. The high cost of living as well as lack of access to basic infrastructure, services and utilities and the lack of employment or opportunities to generate income make it difficult for people to meet their basic needs.

Tonga has received a $3 million grant and a $3 million loan approved by the Asian Development Bank (ADB) to strengthen long-term economic growth and to have the capacity to respond to external economic shocks such as those caused by natural disasters.

New climate resilient buildings for twelve schools that have been rebuilt and refurbished in Ha’apai after being badly damaged by Tropical Cyclone Ian in 2014, were handed over to the Tonga government last week on 26 February.

Businesses in Tongatapu and Vava'u can now pay their PAYE tax and Consumption Tax online, thanks to a new revenue management system known as "RMS7", that was launched by the Australian Deputy High Commissioner, Ms Sophie Temby this morning, 30 October at Tonga's Ministry of Revenue and Customs office, Hala Lelue, Nuku’alofa.

A training program to help professional women reach leadership positions was launched in Nuku’alofa on 25 August by the Asian Development Bank in Nuku’alofa.

An Asian Development Bank report noted that Tonga, a country of about 176 islands, is one of the most vulnerable countries in the Pacific to climate change, and that the ADB is supporting the Tongan Government's efforts to build up the country’s resilience to natural disasters and assisting with its renewable energy goals.