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.
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Results for Asian Development Bank
Tuesday 14 March 2017
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Nuku'alofa, Tonga
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Thursday 5 January 2017
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Nuku'alofa, Tonga
Improvements to Nuku'alofa's roads and drainage, under a successful multi-million project started in 2008, are "less than likely to be sustainable" if they are not properly maintained, warns a report released by the Asian Development Bank. "There is a lack of evidence that the government has recognised the importance of maintenance of the improved assets," the report concluded.
Tuesday 20 December 2016
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Nuku'alofa, Tonga
A renewable energy project to upgrade existing power distribution grid in Vava’u and 'Eua, to be completed by the end 2019, will get an additional USD$5 million from the Asian Development Bank. Half of the amount is a loan and the other half is a grant.
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Monday 12 December 2016
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Nuku'alofa, Tonga
Economic forecasts show that while the Tongan economy is expected to grow by 3.1 % in the current financial year up to 30 June 2017, it will not maintain that growth rate.
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Friday 9 December 2016
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Nuku'alofa, Tonga
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.
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Wednesday 14 September 2016
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Manila, Philippines
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.
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Sunday 4 September 2016
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Manilla, Philippines
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.
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Thursday 14 July 2016
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Nuku'alofa, Tonga
Tatafu Moeaki, the Chief Executive Officer for the Ministry of Finance and National Planning has resigned from the Civil Service before the end of his contract.
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Tuesday 8 March 2016
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Pangai, Ha'apai
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.
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Wednesday 2 December 2015
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Nuku'alofa, Tonga
A waning commitment by the Tongan government to reform has caused delays in grants for budget support and raises concerns regarding long-term fiscal sustainability, the Asian Development Bank warns in the December 2015 issue of the Pacific Economic Monitor - Budget Analysis. Tonga's budget plans for FY2016 will see another large increase in public spending.
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Friday 13 November 2015
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Nuku'alofa, Tonga
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.
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Thursday 25 September 2014
Nuku'alofa, Tonga
An August completion report by the Asian Development Bank (ADB) has indicated challenges facing privatization and fiscal sustainability in Tonga.
Wednesday 20 November 2013
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Sydney, Australia
Central bankers from six Pacific Island countries including Tonga, are in Sydney this week, looking at ways to strengthen mobile banking in the region.
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Friday 27 September 2013
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Nuku'alofa, Tonga
The Asian Development Bank ADB is providing a USD$4.5 million grant to finance Tonga's efforts to achieve fiscal stability and to improve its long-term economic growth prospects.
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Thursday 18 July 2013
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Nuku'alofa, Tonga
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.
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Wednesday 1 May 2013
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Manila, Philippines
The Asian Development Bank (ADB) has elected its new president. Japan’s Former Vice Minister of Finance for International Affairs, Takehiko Nakao will succeed Haruhiko Kuroda, also a former Japanese Parliamentarian who handed in his resignation in March.
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Friday 23 November 2012
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Nuku'alofa, Tonga
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.
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Friday 4 April 2008
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Manila, Philippines
Asian Development Bank (ADB) Vice-President C. Lawrence Greenwood Jr. will visit Tonga next week to discuss ADB's assistance programs and future areas of cooperation.
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Tuesday 18 September 2007
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Manila, Philippines
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.
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Tuesday 27 March 2007
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Manila, Philippines
The Pacific economies grew by 3.1 percent in 2006, picking up from 2.5% growth in 2005, says the 2007 edition of ADB's flagship annual economic publication, Asian Development Outlook (ADO).
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