The First Solomon Islands Resilience DPO with a Catastrophe Deferred Drawdown Option

The development objective of The First Solomon Islands Resilience DPO with a Catastrophe Deferred Drawdown Option Project for Solomon Islands aims to support the Solomon Islands government through two series in its efforts to improve fiscal management, private sector development, and climate and disaster resilience. The series supports the government’s objective to improve fiscal management, support private sector development, enhance resilience to climate change, natural disasters and health emergencies. Pillar 1 aims to support fiscal management by reforming the tax system, improving the fiscal regime of the extractives sector and a better management of public investments. This is aligned with the government’s policy to implement tax reforms for revenue mobilization. Pillar 2 serves to improve the business environment by reducing energy costs, enhancing private sector credit and foreign investment, aligned with the government’s policy statement to create and promote more opportunities for business. Finally, pillar 3 is aligned with the government’s objective to enhance resilience to climate, natural disasters and health emergencies by updating the climate change policy, increasing resilience of buildings and improving the institutional and regulatory framework for health emergencies.