Island offers finance help

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THE island will host representatives from 21 different nations next week for the Small Countries Financial Management Programme.

Treasury Minister Anne Craine MHK will welcome 24 participants on Sunday, ahead of the highly acclaimed executive education programme, now in its third year.

It is implemented by the Small Countries Financial Management Centre and brings together officials from finance ministries, central banks and regulatory bodies in small developing countries.

It has been made possible through the financial support of the Isle of Man Government in partnership with the World Bank, the Commonwealth Secretariat, the Small States Network for Economic Development, and leading faculty from the University of Oxford.

This year’s programme takes place over nine days at the Isle of Man International Business School and four days at Oxford University.

It has a strong focus on financial integrity and will once again offer participants access to some of the best practitioners and professors in the world.

Mrs Craine said: ‘The Isle of Man Government is delighted that the support we have given to this programme is attracting people from such a large range of countries.

‘Whilst we in the Isle of Man are experiencing major challenges to our own economy as a result of recent financial events, we recognise that the challenges faced by small developing countries, where there is considerable poverty, are enormous.

‘We are pleased to be taking the lead in helping these countries to work together to solve problems and to respond to the demands being placed on them by larger and richer countries.’

The SCFMP was established in 2009 to provide a tangible way in which the island could use its financial expertise to benefit small developing countries around the world.

These countries include nations from the Caribbean, the Pacific and from Africa and the Indian Ocean.

The aim is to promote the sustainable development of small state economies and give them a more powerful voice within the international community.

The programme helps to achieve this by focusing on ‘operationally useful’ skills and real-life experiences, so that participants can apply practical and fresh approaches to the challenges they face at home.

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