NEW ZEALAND GOVERNMENT ALLOCATES OVER $US 617,000 FOR TONGA BUSINESS DEVELOPMENT

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NUKU'ALOFA, Tonga (April 28, 1998 - PACNEWS/Tohi)---The New Zealand government has earmarked just over $NZ 1.1 million ($US 617,000) for the development of state-owned enterprises and private sector businesses in Tonga.

Of the total, $NZ 500,000 ($US 280,300) has been allocated to the Tonga Development Bank and $NZ 315,000 ($US 287,600) to forestry projects. Smaller amounts have been committed to projects in the ministries of finance, fisheries, agriculture and tourism.

Overall New Zealand bilateral assistance to Tonga for Fiscal Year 1998-1999, commencing July 1, is $NZ 5.6 million ($US 3.1 million), Radio Tonga reports.

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