The Isle of Man’s key role in backing a unique scheme to help the small nations of the world has gained international recognition, says Chief Minister Allan Bell MHK.
The Small Countries Financial Management Programme has this week been hosted by the Island for the sixth time, bringing 24 participants here from as far afield as the Caribbean, Pacific, Indian Ocean and Africa.
The pioneering initiative is supported by the Manx Government in partnership with the World Bank, the Commonwealth Secretariat, the Small States Network for Economic Development, and Oxford University.
Aimed at officials from finance departments, central banks and regulatory bodies, the Programme contributes to the sustainable development of small state economies by building capacity in government financial administration.
The Isle of Man Government provided initial funding enabling the project to be launched in 2009 and now gives annual support through the International Development Committee of the Council of Ministers.
Said Mr Bell:
‘As Treasury Minister at the time I was delighted to pledge the Isle of Man Government’s backing for the Small Countries Financial Management Programme. It struck me that the Island was the ideal home for an initiative designed to help small nations make their way in the world.
‘We are a small nation too, of course, and over the past 30 years we have been on our own journey of economic and social development to become established as a respected centre for international business and finance.’
The Chief Minister continued:
‘Getting involved with the Programme was the right thing to do from an ethical perspective. It provides small countries with something that was not available to them before, tailored advice on financial administration that is of real value in helping to guide their future development.
‘Our support for the Programme has been good for the Isle of Man too. We are working alongside major international and academic partners, and our key role in this initiative has reinforced recognition of the Island as a responsible and co-operative jurisdiction.’
Mr Bell concluded:
‘Above all, the Programme has introduced us to many new friends, people with whom we can share lessons from the past and hopes for the future.
‘In a troubled and turbulent world, this example of friendship and mutual support between some of the smaller nations is an encouraging reminder of what can be achieved when countries work together.’
