18 Mar 2010

ADB to help Solomon Islands' economy recover from crisis

8:49 am on 18 March 2010

The Asian Development Bank is giving Solomon Islands' government grants worth 10 million US dollars to help the economy recover from the global economic crisis.

The cluster of grants supports two subprograms under the Solomon Islands Economic Recovery Support Program.

The program, which began last March and ends in early 2012, supports improved fiscal management and structural measures that will aid economic recovery and help preserve the delivery of basic services.

The ADB's senior economist says Solomon Islands' economy is among the region's worst affected by the global recession and the grants are the bank's contribution to a collaborative effort by development partners to help the government rebuild it.