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PRESS RELEASE October 31, 2017

Samoa Acts to Bolster Resilience to Major Risks

WASHINGTON, October 31, 2017 – The World Bank’s Board of Executive Directors approved today a grant of $5 million for Samoa’s First Resilience Development Policy Operation, which will support policy reforms to strengthen Samoa’s resilience to economic shocks and reduce its vulnerability to the impacts of climate change, natural disasters, and non-communicable diseases.

“The Samoan government continues to pursue reforms that strengthen our finances, build our resilience to natural disasters and climate change, improve health outcomes, and boost private sector activity,” said Samoa’s Minister of Finance Hon. Sili Epa Tuioti. “We are pleased to partner with the World Bank as we deliver for the people of Samoa, guided by our Strategy for the Development of Samoa.”

The operation is the first in a series of two focused on resilience, and will help to strengthen the government’s revenue base, reduce risks around remittance flows, and increase access to finance for small to medium-sized businesses and individuals who were previously excluded from borrowing.

The operation also supports government efforts to reduce Samoa’s vulnerability to long-term threats associated with climate change, natural disasters and non-communicable diseases, including through updated building standards, improvements to the climate resilience of roads, more cost-effective government purchases of medicine, and tax increases on alcohol, tobacco, and sugary and salty foods and drinks.

“With strong and sustainable policy interventions, Samoa can better manage the risks it faces from climate change, natural disasters and non-communicable diseases, as noted in our flagship report Pacific Possible,” said Michel Kerf, World Bank Country Director Papua New Guinea and the Pacific Islands. “The World Bank will continue to support Samoa’s efforts to tackle the risks now and in the future.”

The First Resilience Development Policy Operation is funded through a $5 million grant from the International Development Association (IDA), the World Bank’s fund for the most in-need countries.

 


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PRESS RELEASE NO: 2018/065/EAP

Contacts

Sydney, Australia
Benjamin Brighouse
+61 433 028 405
bbrighouse@worldbank.org
Washington, DC
Dini Djalal
+1-202-468-4442
ddjalal@worldbank.org
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