8 Sep 2018

Tuvalu gets big World Bank grant

10:16 am on 8 September 2018

The World Bank is giving Tuvalu a $US7.5 million grant to continue a process of government reforms.

The fourth Development Policy Operation will seek to address non-communicable diseases and strengthen the country's finances.

The operation also aims to improve the delivery of health and education services by formally recognising early childhood care and education as a government mandate.

Duties on tobacco, alcohol and sugary drinks will be increased as well.

It will also improve macroeconomic and fiscal sustainability by strengthening the management of reserves in the Tuvalu Trust Fund, ensuring an affordable public service, and enhancing banking sector oversight and sustainability.

The operation is also expected to boost budget reserves for times of crisis.

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