# Tonga Development Bank

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

==Products and Microlending==
Tonga Development Bank supplies [loan](/source/loan)s, [savings](/source/Savings_account), cross border cash remittances (Ave Pa'anga Pau), domestic [money transfer](/source/Electronic_funds_transfer), [promissory note](/source/promissory_note)s, and business advising.<ref name="tdb.to">Tonga Development Bank Website http://www.tdb.to</ref> TDB also is the longest running provider of [microloan](/source/microloan)s in Tonga. For 16 years, the [New Zealand Government](/source/New_Zealand_Government) has funded the Tonga Development Bank with approximately TOP$300,000. Lending targets 2 major groups; the disadvantaged borrowers and product [diversification](/source/Diversification_(marketing_strategy)) borrowers within the productive sectors; Agriculture, Industry & Business, Fishing and Women Development Groups.<ref name="tdb.to"/>

Tonga Development Bank’s Micro Lending Product and facilities are aimed at advancing the development of key [economic sector](/source/economic_sector)s in the country, especially small-scale [farming](/source/farming) and [handicraft](/source/handicraft)-making that involves women and youth groups.  This product aims to promote [small business](/source/small_business) initiatives and savings at villages especially people who have skills but have less or no [collateral](/source/Collateral_(finance)) at all to pledge as loan security.<ref name="tdb.to"/>

==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.<ref>ADFIAP members list http://www.adfiap.org/members/TDB/TDB.htm</ref>

==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.<ref name="tdb.to"/>

This ADFIAP Award 2010 given to Tonga Development Bank recognizes its efforts in successfully advancing [economic](/source/Economic_development) and [social development](/source/Social_change) through [innovative financing](/source/innovative_financing) schemes that benefit poor and disadvantaged groups in the country.<ref name="tdb.to"/>

==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),<ref>{{cite web |url=https://www.adfiap.org/members/members-list/ |title=Members List |publisher=ADFIAP |access-date=8 October 2021}}</ref> the Association of Banks in Tonga (ABT) and the Microfinance Pasifika Network.<ref>{{cite web |url=https://www.microfinance-pasifika.org/members/ |title=Members |publisher=Microfinance Pasifika |access-date=8 October 2021}}</ref>

==Notes==
{{Reflist}}

{{Authority control}}

Category:Economy of Tonga
Category:Banks of Tonga

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Adapted from the Wikipedia article [Tonga Development Bank](https://en.wikipedia.org/wiki/Tonga_Development_Bank) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Tonga_Development_Bank?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.