12 Feb 2007

Australia helps fund Tongan business reconstruction

3:48 pm on 12 February 2007

Australia is to provide up to 1.2 million US dollars to assist business in Tonga recover after last year's civil unrest.

A release from the office of the Foreign Minister, Alexander Dopwner, says the contribution is part of a joint commitment by Australia, New Zealand and the gvernment of Tonga to encourage businesses to rebuild, re-open and rehire employees.

The National Reserve Bank of Tonga will hold Australia's contribution in a trust fund which will distribute funds via the commercial banks to eligible business proprietors.

The process will be independently monitored ensuring both accountability and transparency.