16 Sep 2003

World Bank to resume talks with Solomons government

10:22 am on 16 September 2003

The World Bank says it hopes to hold talks with the Solomon Islands government soon, quelling speculation that it will deal directly with the Regional Assistance mission or RAMSI.

This comes after Australia, through RAMSI, paid the Solomon's outstanding debts of over three million US dollars owed to the World Bank and Asian Development Bank.

A World Bank economist, Cyrus Talati, says despite the current situation in Solomon Islands, funds from the financial institution will flow directly to the country's government.

"World Bank loans are usually made to corresponding governments. In this case it would be to the government of the Solomon Islands and in accordance with that, the resources would also flow to the government of the Solomon Islands. There has already been an initial visit by a very small World Bank mission a very brief visit to take a first hand look at the situation on the ground and an assessment mission is likely in the coming weeks."

Cyrus Talati, World Bank economist.