Results for Asian Development Bank

The high cost of travel for tourists to the region is an enemy of the Tourism Industry in the South Pacific Islands, reports the December 2016 issue of the 'Pacific Economic Monitor', published by the Asian Development Bank.

The Asian Development Bank (ADB) plans to spend up to $2.5 billion in loans and grants to strengthen economic development in 14 Pacific Island countries after it unveiled a new five-year strategy on 1 September.

A multi-million dollar project to restore Ha’apai’s electricity network, after it was wrecked by Tropical Cyclone Ian in early 2014, was completed recently. Tonga Power Ltd reported that Cyclone Ian left 971 customers without electricity, and damaged 90% of the network lines, 65% of transformers, and a generator. The rebuilding project provided equal opportunity for women and men in the workforce.

A team of Australian business consultants supported by the Australian Government is helping small to medium enterprises in the Pacific to raise finance to take their businesses forward.

Central bankers from six Pacific Island countries including Tonga, are in Sydney this week, looking at ways to strengthen mobile banking in the region.

Solar power systems for nine outer islands In Tonga will be funded by the Asian Development Bank (ADB) and Australia under a six-years Outer Islands Renewable Energy Project, costing $6.8million.

A Tonga Micro Finance Program that would give direct support to low income earners through the provision of micro loans to be administered by the Tonga Development Bank, is to start in early February 2013, for two years.

Top global and regional trade officials along with key private sector representatives will gather in Manila on 19-20 September to discuss how to empower less developed economies and small states to benefit from global trade.