World Bank approves US$37 million capacity building program for Timor Leste.

0 Comments | M2 Presswire, March, 2006

M2 PRESSWIRE-22 March 2006-WORLD BANK: World Bank approves US$37 million capacity building program for Timor Leste(C)1994-2006 M2 COMMUNICATIONS LTD RDATE:21032006 Dili - The World Bank's Board of Directors today endorsed a Planning and Financial Management Capacity Building Program (PFMCBP) for Timor-Leste which will help to strengthen the Government's capacity in budgeting, public expenditure management and revenue administration.

This joint donor program will provide financial resources of up to US$37 million. Through an International Development Association (IDA) grant, the World Bank will contribute US$7million. The remainder will be provided by bilateral partners: Australia, Sweden, Ireland, Norway, Portugal, and the UK. New Zealand, the Japanese...