Small states to benefit from financial management training

A five-year training programme for 100 government officials from small states which will focus on financial management and negotiating skills has been announced.

The programme is expected to strengthen the financial sector and negotiating ability of small states, to foster a well-governed and regulated environment conducive to the effective use of public funds and private sector investment.

The programme will include training on sound regulatory practices, financial legislation, the role of the courts, tax policy, public sector reform, and improving the performance of government agencies in the financial sector.

One hundred officials will be trained over five years - 20 each year – at a two-week programme specifically designed to suit their needs.

The training programme was one of the outcomes of the 2008 Annual Small States Forum which was held on 11 October 2008 at the World Bank headquarters in Washington, DC.

Alan Bell, the Isle of Man’s Treasury Minister, outlined the plan at the Forum, which was attended by representatives from 45 small states, 26 of which are Commonwealth members.

The Government of the Isle of Man has agreed to pay more than half the annual costs and is seeking donors who have already demonstrated an interest in supporting efforts to strengthen financial management controls systems.

Mr Bell explained that this programme is in response to a demand by small states, who have stated they are disproportionately challenged both by capacity constraints, most notably in financial sector management, and in the ability to address and negotiate with larger state actors and international institutions.

“The Secretariat is on board with the Isle of Man proposal and will be making a financial contribution to the implementation of the training programme,” confirmed Constance Vigilance, Economic Adviser at the Commonwealth Secretariat.

Secretariat Links:

• Small States