27 Feb 2006

Extra funds to train Pacific Islands economic managers

7:21 am on 27 February 2006

The Philippines-based lending organisation, the Asian Development Bank, is increasing its financial support to a project to improve the expertise of governments in Pacific Island nations in managing their economies.

The ADB has approved an 800-thousand US dollar contribution to support the operations of the Pacific Financial Technical Assistance Centre over the next three years.

The centre offers training and advice to address the lack of technical skills said to be impeding economic development in most Pacific Island countries.

The centre now operates in 15 Pacific Island developing countries with an annual budget of about two POINT three million US dollars.

The director of the bank's Pacific operations, Indu Bhushan, says the centre is a high quality and cost-effective way to address shortcomings in management.