27 Aug 2010

Tonga in line for funding managed by World Bank

12:41 pm on 27 August 2010

Tonga is to get just over 37 million US dollars in assistance funded or managed by the World Bank over the next four years.

The money will go towards the reconstruction in tsunami-damaged Nuiatoputapu, budget support, the so-called energy road map and the Tonga cable project.

The Bank will also manage a Tongan transport sector grant of nearly ten million US dollars to be funded by the Australian Government.

As well, a further ten million US dollars in budgetary support will be available to the incoming Government over the next two years if economic and financial reforms continue to be implemented through that period.