22 Jun 2004

Tuvalu Trust Fund an outstanding example of transparent control of public money says anti corruption

10:24 am on 22 June 2004

The Trust Fund operated by Tuvalu is being promoted as a model for other nations to use to improve the transparency of their financial activities.

The Pacific chapters of the anti corruption group, Transparency International, in a communique, say the Tuvalu Trust Fund has been an outstanding success.

Spokesman, Shane Cave, says a key part of this success has been the involvement of the people of Tuvalu in the running of the Trust, such as in the way the sub-fund for the eight outer islands is managed.

"They have set their own priorities, they are responsible for deciding how the money is spent, and each is able to comment on their own and peer pressure is ultimately the key in making all governments feel accountable, and the way in which those outer islands and the rest of Tuvalu has handled those Trust Funds shows the way in which collective responsiblity is the crucial ingredient to having open and honest handling of finances"