- News : Fiji inks revised MSG Trade Agreement that covers services and investment [20/01/2017 - Fiji]
- News : MSG chair postpones PNG leg of Melanesia tour [20/01/2017 - Solomon Islands]
- News : Remengesau aims to maintain a ‘caring government’ [19/01/2017 - Palau]
- News : Diro shows interest in G-G’s position [19/01/2017 - Papua New Guinea]
- News : Poll job given abroad [19/01/2017 - Papua New Guinea]
- News Feature : Pacific Islanders Call for U.S. Solidarity on Climate Change [19/01/2017 - United States]
- News : U.S. national security handover to Trump bumpy, officials say [19/01/2017 - United States]
- News : Marshall Islands internet restored [19/01/2017 - Fiji]
- Business News : Nauru Airlines can fly to Guam [19/01/2017 - Guam]
- Sports News : New tackle laws 'may restrict Pacific players', says former Samoa captain Dan Leo [19/01/2017 - United Kingdom]
- Sports News : Tietjens taking small steps as Samoa coach [19/01/2017 - Samoa]
- Sports News : Venues upkeep costs State K12m annually [19/01/2017 - Papua New Guinea]
- Sponsored : Oceania National Olympic Committees (ONOC)
The Asian Development Bank (ADB) and the Government of Samoa today signed a policy-based grant worth $5 million to help the Government achieve long-term fiscal stability.
Bhimantara Widyajala, Executive Director of ADB’s Board of Directors and representing the Government of Samoa, and Xianbin Yao, Director General of ADB’s Pacific Department, signed the grant for the Samoa Fiscal Resilience Improvement Programme in a ceremony at the ADB headquarters.
“The ADB assistance aims to reduce the vulnerability and boost the resilience of Samoa’s economy to fiscal and climatic shocks,” said Yao at the signing event.
The grant funding will target four reform areas, particularly the reduction of fiscal drain through state-owned enterprise reforms, improvement of procurement systems, improvement of debt management, and promotion of resilience to climate change. The programme is policy-based, meaning that the funds can be released as budget support once policy actions outlined in the programme are successfully completed.
While climate-proofing roads, bridges, and buildings can increase investment costs, it will also reduce the budgetary burden in the future when climatic shocks occur. Stronger climate resilience will also boost investor confidence, bringing positive impacts on growth and revenues.
The programme will run from 2016 to 2018 and builds on previous policy-based support to help the government improve its fiscal position through policy and public enterprise reforms. It supports the Samoan government’s medium-term fiscal framework.
ADB has been working with Samoa since 1966, with approved loans, grants, and technical assistance totaling $340.46 million.
Pacific Islands News Association
Who & What is PINA?
International News Safety Institute (INSI)
Media Helping Media