Debt management project in Nigeria wins international recognition

Crown Agents, with whom the Commonwealth Secretariat collaborates in the area of debt management, has won the British Expertise 'Consultant of the Year 2006' award for a project in Nigeria.

The project -- funded by the UK's Department for International Development (DFID) and executed by Crown Agents -- helped Nigeria establish a debt management office and reconcile its external debt database.

Nigeria negotiated an unprecedented deal with the Paris Club in October 2005, under which US$18 billion of debt owed to the group of creditors was cancelled.

The Crown Agents said the Secretariat's inputs and the Commonwealth Secretariat Debt Recording and Management System (CS-DRMS) were essential to the project's success.

"I am delighted that the Crown Agents has won this prestigious award. I am particularly pleased to see how our two institutions have been able to work together for the benefit of Nigeria," Commonwealth Deputy Secretary-General Ransford Smith said at the awards ceremony in London on 14 November 2006.

Established in 1966, British Expertise is a leading trade association for the export of professional services. The annual International Awards mark the outstanding success of UK professional services globally and recognise exceptional projects.

Crown Agents is an international development company which provides consultancy and training for public sector modernisation. It is the appointed distributor for the CS-DRMS software package for non-Commonwealth countries.

The Commonwealth Secretariat's capacity-building programme in debt management celebrated its 21st anniversary this year. A major component of the programme is the CS-DRMS which is used by 54 countries within and outside the Commonwealth.

Key Links:

• Finance and Debt
• Special Advisory Services Division (SASD)

Related News:

• CS-DRMS Website
• Crown Agents
• Department for International Development (UK) - DfID
• British Expertise