OUTER ISLANDS DEVELOPMENT FUND COMMITTEE APPROVED

admin's picture

GOVERNMENT OF THE COOK ISLANDS Rarotonga, Cook Islands

MEDIA RELEASE July 28, 1998

Cabinet has approved the creation of the Outer Islands Development Fund Approvals Committee with membership comprising of the Secretary of MOID, Secretary of Finance, Chief of Staff of the Office of the Prime Minister, representative for the Northern Group, representative for the Southern Group and a representative of the New Zealand High Commission.

The Outer Islands Development Fund was set up this year by Government to specifically target projects from the outer islands in recognition of the need to elevate the standard of development in the islands. It is Government's intention that the funds be spent on capital development, major infrastructure and on those projects which could enhance the overall development of the outer islands. Bids for OIDF funds can come from both the private and public sector of outer islands communities and are to be submitted via their respective Island Councils to the Approvals Committee who then forwards the bids to Cabinet for final endorsement.

The OIDF is built up by a Government-Donor contribution on a dollar-for-dollar basis. New Zealand is currently the only donor to the fund but other donors are anticipated to contribute in the future.

Bids for OIDF funds will be received on an annual basis as part of the budget round.

Rate this article: 
No votes yet

Add new comment