Tonga - First Inclusive Growth Development Policy Operation

March 16, 2016

IDA Credit: US$1.0 million equivalent

Maturity = 40 years, Grace = 10 years

IDA Grant: US$1.0 million equivalent

Project ID: P155133

Project Description: The objective of the project is to i) increase excise tax and support strategic fiscal and debt policies; ii) pursue transparency and government accountability by improving compliance with public procurement regulations, improving budgetary classifications, improving the adequacy of responses to external audit, and introducing new regulatory frameworks into selected sectors; and iii) support a more dynamic and inclusive economy by adopting investor-friendly foreign investment legislation, extending coverage of the credit bureau, and improving oversight and private participation in public enterprises.

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