Tonga Development Bank (TDB) is a development finance institution that promotes Tonga's economic and social advancement through a variety of banking services.

Products and Microlending

Tonga Development Bank supplies loans, savings, cross border cash remittances (Ave Pa'anga Pau), domestic money transfer,

promissory note A promissory note, sometimes referred to as a note payable, is a legal instrument (more particularly, a financing instrument and a debt instrument), in which one party (the ''maker'' or ''issuer'') promises in writing to pay a determinate sum of ...

s, and business advising.Tonga Development Bank Website http://www.tdb.to TDB also is the longest running provider of

microloan :''This article is specific to small loans, often provided in a pooled manner. For direct payments to individuals for specific projects, see Micropatronage. For financial services to the poor, see Microfinance. For small payments, see Micropayme ...

s in Tonga. For 16 years, the

New Zealand Government , background_color = #012169 , image = New Zealand Government wordmark.svg , image_size=250px , date_established = , country = New Zealand , leader_title = Prime Minister Jacinda Ardern , appointed = Governor-General , main_organ = , ...

has funded the Tonga Development Bank with approximately TOP$300,000. Lending targets 2 major groups; the disadvantaged borrowers and product

diversification Diversification may refer to: Biology and agriculture * Genetic divergence, emergence of subpopulations that have accumulated independent genetic changes * Agricultural diversification involves the re-allocation of some of a farm's resources to n ...

borrowers within the productive sectors; Agriculture, Industry & Business, Fishing and Women Development Groups. Tonga Development Bank’s Micro Lending Product and facilities are aimed at advancing the development of key economic sectors in the country, especially small-scale farming and handicraft-making that involves women and youth groups. This product aims to promote

small business Small businesses are types of corporations, partnerships, or sole proprietorships which have fewer employees and/or less annual revenue than a regular-sized business or corporation. Businesses are defined as "small" in terms of being able to ap ...

initiatives and savings at villages especially people who have skills but have less or no

collateral Collateral may refer to: Business and finance * Collateral (finance), a borrower's pledge of specific property to a lender, to secure repayment of a loan * Marketing collateral, in marketing and sales Arts, entertainment, and media * ''Collate ...

at all to pledge as loan security.

History

TDB and was established on September 1, 1977 under TDB Act 1977 and was incorporated under the Companies Act at the time. TDB was registered again in 2001 under the Companies Act 1995.

Awards

The Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) announced Tonga Development Bank as the winner of its two (2) projects under the Category 8: Development Finance-led Poverty Alleviation in May 2010. Tonga Development Bank entered two projects: “New Zealand Borrowers’ Diversification Fund (NZBDF)” and “Micro Lending Product” and they were equally named as winning projects. This ADFIAP Award 2010 given to Tonga Development Bank recognizes its efforts in successfully advancing economic and

social development Social development can refer to: * Psychosocial development * Social change * Social development theory * Social Development (journal) * Social emotional development * Social progress or social regress The word decadence, which at first meant ...

through

innovative financing Innovative financing refers to a range of non-traditional mechanisms to raise additional funds for development aid through "innovative" projects such as micro-contributions, taxes, public-private partnerships and market-based financial transactions. ...

schemes that benefit poor and disadvantaged groups in the country.

Networks

TDB is a member of the Association of Development Finance Institution in the Pacific (ADFIP), the Association of Development Finance Institution in Asia and the Pacific (ADFIAP), the Association of Banks in Tonga (ABT) and the Microfinance Pasifika Network.

Notes

{{Authority control Economy of Tonga Banks of Tonga