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AU$5 Million ADB Grant To Support FISCAL Sustainability

The Asian Development Bank (ADB) has approved a AU$5 million (FJ$7m)policy-based grant to support the efforts of the Government of Solomon Islands to implement policy and institutional reforms. This is
29 Nov 2018 13:16
AU$5 Million ADB Grant To Support FISCAL Sustainability

The Asian Development Bank (ADB) has approved a AU$5 million (FJ$7m)policy-based grant to support the efforts of the Government of Solomon Islands to implement policy and institutional reforms.

This is to progressively improve fiscal sustainability, business climate, public financial management, and service delivery.

“The Solomon Islands Improved Fiscal Sustainability Reform Programme builds on previous policy- based operations of ADB and its development partners,” said ADB’s Pacific Liaison and Coordination Office Regional director Emma Fan.

“The programme will support better public sector management, leading to higher quality service delivery for the people of Solomon

Islands.”
The governments of Australia and

New Zealand, the European Union, and the World Bank will provide AU$16.4 m (FJ$25m) in co-financing.

About the three reforms

There are three reform areas supported by the programme.

Policy actions under the first reform area will help improve the quality of budget systems and support legislation to establish institutions to fight corruption.

Under the second reform area, policy actions will help return the government’s finances to a sustainable track with measures to increase revenue, reduce expenditure, and pay arrears.

Policy actions under the third reform area will support shifting to a more broad-based economy that is competitive and encourages the participation of women in the econ-

omy,and a tax system that supports economic growth and is business friendly.

The programme is aligned to ADB’s Strategy 2030, particularly the operational priorities related to strengthening governance and institutional capacity, accelerating progress in gender equality, and supporting fragile and conflict affected status and small island developing states.

Feedback: maraia.vula@fijisun.com.fj




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