MANILA, Oct. 23 (Xinhua) -- The Asian Development Bank (ADB) said on Thursday that it has approved a 10-million-U.S.-dollar policy-based grant to help enhance public sector management and social and economic resilience in Tonga.
The Improving Economic Management Program (Subprogram 2) builds on earlier reform efforts and supports institutional measures to strengthen debt and revenue management, reduce revenue leakages, and ensure that fiscal information is more transparent and accessible to the public, the Manila-based bank said in a press release.
It also expands coverage of the government's social protection program, making it more responsive to disasters and emergencies, the ADB added.
"These reforms will help drive Tonga's economy toward a more sustainable fiscal path," said Regional Director of ADB's Pacific Subregional Office Aaron Batten. "Enhanced quality of life for the people of Tonga is the ultimate impact of the program." ■
