Third Economic Reform Development Policy Operation

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The development objective of Third Economic Reform Development Policy Operation Project for Kiribati is to (i) strengthen public financial management, through greater transparency in managing fisheries revenue, improved governance of the sovereign wealth fund, and better reporting and monitoring of public debt and contingent liabilities; and (ii) create an environment for inclusive and private sector led growth, through reducing the costs, improving the quality, and expanding the coverage of essential public utilities services (electricity, water, sewage, and telecommunications). The operations supported the government actions in three main policy areas: (i) improving the management of fisheries revenues; (ii) improving the management of public assets and liabilities; and (iii) expanding private sector opportunities. This operation is aligned with the priorities identified in the existing Country Assistance Strategy and the new Systematic Country Diagnostic for the Eight Pacific Island Countries.