ADB approves $2m grant for Tuvalu reforms

The Asian Development Bank has approved a US$2 million grant to support a policy reform programme that aims to strengthen Tuvalu's fiscal sustainability.

The country relies on unpredictable and volatile revenue sources, such as fishing fees, licensing fees for its ".tv" internet domain, and development assistance, making fiscal sustainability a challenge.

The bank's director for the Pacific Subregional Office, Robert Jauncey, says the policy reform programme hopes to promote public procurement policies and regulations to address these challenges.

The government hopes to support public enterprise reforms and maximise government efficiency and transparency.

Mr Jauncey says the programme will contribute to Tuvalu's long-term fiscal sustainability and better public service delivery by supporting efforts towards sound fiscal management and performance.