Tonga met today with the World Bank during COP27 in Egypt to discuss climate change interests and partnerships, of which Tonga highlighted the importance of climate financing towards building the country’s resilience; and the need to recognize small island states’ vulnerability beyond a country’s GDP/capita when determining financial allocations. Tonga’s Ministry of Finance will pursue further dialogue with the World Bank in ensuring effective use of climate finances.

Tonga highlighted today at the Coalition of Finance Ministers for Climate Action during COP27 in Egypt, the importance of mainstreaming climate risks and actions into the national budgeting and planning system as part of adopting a whole-of-country approach towards addressing climate change impacts. Further dialogue continues between the coalition members and the World Bank on potential capacity-building programs to strengthen the role of finance ministers’ in climate action.

Ensuring availability of adequate and sustainable financing for climate change efforts is equally important as building a robust public financial management (PFM) system in place to support the effective use of climate finances, towards achieving a climate resilient Tonga.

On Monday 10th October, 2022 at Washington, D.C., U.S.A. the Prime Minister, Hon. Hu’akavameiliku, met with the World Bank’s Vice President for East Asia and the Pacific, Ms. Manuela V. Ferro, during the Bank’s Annual Meeting 2022, at which he led the Kingdom’s delegation, in his capacity as Acting Minister for Finance, and thus the Governor for Tonga in the Bank’s Board of Directors.

3rd Annual Business Opportunity Seminar: WB & ADB projects hosted by Ministry of Finance