ADB Signs $10 Million Grant to Help Tonga’s Economic Recovery After Disasters and Health Emergencies

  • April 16, 2024 By hpalu
  • Time to read less than 1 minute
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Read More: Asian Development Bank (ADB) News, MANILA, PHILIPPINES (12 April 2024) 

The Asian Development Bank (ADB) and the Government of Tonga today signed a $10 million policy-based grant agreement to help expedite economic recovery from disasters caused by natural hazards and health emergencies. The agreements were signed at ADB Headquarters in Manila by ADB Executive Director Made Arya Wijaya, on behalf of the Government of Tonga, and ADB Director General for the Pacific Department Leah Gutierrez. The first subprogram of the ADB-supported Improving Economic Management Program will help the government implement reforms to mitigate fragilities intensified by the COVID-19 pandemic, and the 2022 volcanic eruption at Hunga Tonga–Hunga Ha'apai (HTHH) and subsequent tsunami waves. “The subprogram will help Tonga meet development financing needs and build resilience against disasters, which will be intensified by climate change,” said ADB Senior Public Sector Economist and Program Team Leader, James Webb. “The program comprises two subprograms that will strengthen public sector management and sustainability and boost social and economic resilience in Tonga.”