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ADB approves funds to strengthen Tonga's economy

The Asian Development Bank has approved financing to help Tonga strengthern its economy and insulate itself from external economic shocks.

The $US5 million dollars is part soft loan and part grant.

It is the second stage of a three part programme for the 'Building Macroeconomic Resilience Program for Tonga'.

A principal economist, Ananya Basu, said the Tonga government is undertaking important policy reforms to strengthen public financial management, promote healthy lifestyles, and improve the performance of state-owned enterprises.

Ms Basu said the ADB program will help further improve the country's fiscal position and business environment.

Photo: Matangi Tonga/ Peter Poulsen Tonga prepares for arrival of the Queen Mother
Source: Radio New Zealand
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