World Bank Provides $15 Million Grant to Tonga for Employment and Development
A $15 million grant has been approved to reduce unemployment and expand economic opportunities in Tonga.
The World Bank has provided a $15 million grant under the First Growth and Jobs Development Policy Financing program to support Tonga's economy and create jobs.
Economic Challenges and Unemployment in Tonga
More than a quarter of the population in Tonga struggles with unemployment, and people lack access to education and training. This situation causes many individuals to emigrate abroad to find work.
Reliance on Remittances
According to some estimates, nearly a third of the economic activity in the country consists of money sent by Tongans working abroad.
Scope of the World Bank Grant
The $15 million grant provided by the World Bank constitutes the first part of a two-phase program aimed at expanding employment opportunities.
Future-Oriented Reforms
The new operation supports government reforms aimed at strengthening workforce skills, improving conditions for private investment, and better managing ocean resources.