Overseas remittances are predicted to fall by 13 percent in the East Asia and Pacific region this year affecting countries such as Tonga, due to the economic crisis caused by CoViD-19, according to the World Bank. Migrant remittances to Tonga in 2019 made up 37.6 percent as a share of GDP.
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Results for World Bank Group
Friday 24 April 2020
Wednesday 18 March 2020
A $14 billion COVID-19 response package has been approved by the World Bank and IFC’s Boards of Directors, to fast-track financing to assist companies and countries efforts to prevent, detect and respond to the fast spread of the virus.
Friday 27 February 2015
Tonga’s very low economic growth rate means that employment, particularly for young people, cannot be realised, and new investment is needed in order to create new opportunities, the World Bank Vice President for East Asia and Pacific, Axel van Trotsenburg said in Nuku‘alofa yesterday, February 26.
Monday 2 September 2013
This week’s Pacific Islands Forum focuses on: “Marshalling a Pacific Response to Climate Change” when the leaders of the Pacific Island Forum will propose the Majuro Declaration for Climate Leadership, to galvanize a new wave of climate action. At this critical time in the history of the Pacific, it is essential the discussion goes beyond words and pledges and results in concrete actions and commitments, from all actors, to combat climate change. - World Bank Group.