5 May 2011

No immediate plans to sell Tonga Development Bank

8:13 am on 5 May 2011

The Minister for Public Enterprises, Clive Edwards, has denied a local media report that the Government plans to sell the Tonga Development Bank.

Clive Edwards says there are no immediate plans to sell the bank, which has been operating for more than 33 years.

He says there's been an expression of interest from a potential buyer but there is no sale.

The Development Bank offers loans to help promote small business and to disadvantaged borrowers.