World Bank Group President Ajay Banga and Asian Development Bank President Masato Kanda announce the first two Pacific projects to be delivered under the Full Mutual Reliance Framework, an innovative cofinancing model that will boost development impact. The framework will allow countries to work with a single lead lender, either ADB or the World Bank, guiding all aspects of project design, preparation, supervision and evaluation. The first two projects under the framework are a major health modernization initiative in Fiji and an integrated transport, urban, and water infrastructure investment in Tonga.
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