26 Mar 2013

Solomons to benefit from ADB grant to improve public investment delivery

11:06 am on 26 March 2013

The Asian Development Bank is providing a five million US dollar grant to Solomon Islands to support the government's delivery of improved public investment and basic social services.

The grant will assist the government to implement policy reforms that maintain a strong fiscal position while delivering more equitable services.

The reforms are based on the country's long-term National Development Strategy, 2011 to 2020.

The programme grant follows the Economic Recovery Support programme, approved by ADB in 2010, which helped the government weather the global economic crisis.

The economy recovered strongly, largely due to coordinated support from development partners including ADB, Australia, the European Union, the International Monetary Fund, New Zealand, the Regional Assistance Mission to Solomon Islands, and the World Bank.