Pacific Finance for Growth Project - P502591
Pacific Finance for Growth Project - P502591
Last update: May 29, 2025
Last update: May 29, 2025
Pacific Finance for Growth Project - P502591
Last update: May 29, 2025

Details

Project End Date:
2030-09-30
Location:
Fiji, Kiribati, Marshall Islands ...
Fiji, Kiribati, Marshall Islands, Micronesia, Nauru, Palau, Samoa, Solomon Islands, Tonga, Tuvalu, Vanuatu
Status:
Approval
Sectors:
Macro-Economy & Public Finance, Financial Services & Audit
Languages:
English
Contracting authority:
Funding Agency:
Contracting authority type:
Development Institution
Eligibility:
Unknown
Budget:
USD 76,900,000
Date posted:
Dec 27, 2023

Attachments • 13

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Dec 27, 2023

Associated Awards

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Project cycle timeline

STAGES
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PROCUREMENT
IMPLEMENTATION
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Description

Project ID: P502591 Project Title: Pacific Finance for Growth Project Country: Pacific Islands Region: East Asia and Pacific Fiscal Year: 2025 Borrower: N/A Implementing Agency: N/A Abstract:
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tender Background

About the Funding Agency

The World Bank (USA) is part of an international financial agency that makes loans and grants to governments in low- and middle-income countries to fund capital projects. The United States was a driving force behind the founding of the World Bank in 1944 and it is still the World Bank's largest shareholder today.

The United States contributes to tackling critical international development concerns through the World Bank Group and has a long history of generously supporting the objectives of the World Bank Group and has been a champion of the International Development Association (IDA) which provides low-interest loans and grants to the world's poorest countries. The key U.S. priorities at the World Bank include a multilateral health and economic response to COVID-19, debt sustainability and transparency, promoting governance and fighting corruption, ending energy poverty and supporting a strong emphasis on accountability, transparency and development impact.

About the Sectors

Macro-Economy & Public Finance

Includes initiatives that support macroeconomic stability, sound fiscal policy, and effective management of public financial resources.


Key areas:
  • Macroeconomic analysis and policy support
  • Public finance management (PFM)
  • Government budgeting, taxation, and debt management
  • Economic growth and development strategies

Financial Services & Audit

Covers financial, banking, insurance, investment, and audit services related to the management, transfer, and oversight of financial resources.


Key areas:
  • Financial services, banking, and insurance
  • Accounting, auditing, and financial reporting
  • Investment, capital markets, and financial inclusion

Locations

Fiji

Fiji is an upper-middle-income Pacific island country whose economy is driven by tourism, agriculture and remittances. As a small island developing state (SIDS), it faces acute exposure to climate change, natural disasters and external shocks. In recent years, Fiji has prioritised resilient infrastructure, renewable energy expansion and fiscal consolidation to strengthen macroeconomic stability following pandemic-related disruptions. Development partners, including multilateral development banks, support investments in transport, water systems and climate adaptation. Continued reforms to public financial management, private sector development and disaster-risk governance remain central to sustaining inclusive growth and reducing vulnerability to climate-related risks.

Nr. of tenders: 9384
Nr. of grants: 2079
Nr. of donors: 409
Nr. of jobs: 48

Kiribati

Kiribati is a low-lying Pacific island nation classified as a small island developing state and highly vulnerable to sea-level rise and climate change. Its economy relies on fisheries licensing revenues, remittances and external assistance. Public investment priorities include coastal protection, renewable energy, transport connectivity and freshwater security. Development partners provide substantial concessional financing and grant support to strengthen climate resilience and public service delivery. Enhancing fiscal sustainability, improving infrastructure governance and expanding economic opportunities beyond subsistence and public employment remain central development challenges.

Nr. of tenders: 6524
Nr. of grants: 2071
Nr. of donors: 384
Nr. of jobs: 20
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