The multi-donor trust fund—the first in a series of so-called Topical Trust Funds—will start operations on May 1, 2009, and provide about 31 million dollars over five years.
Switzerland, Norway, Japan, Saudi Arabia, the United Kingdom, Luxembourg, Korea, and France will provide about two-thirds of the financing. Discussions are still ongoing with a number of other donors who have also expressed interest in contributing to the trust fund.
Demand for the IMF’s technical assistance is rising in light of the current global economic and financial crisis, but also because countries are seeking to strengthen their institutions.
A menu of topical trust funds will provide a global geographical coverage and a specialized topical scope. Following the launch of the AML/CFT trust fund, the roll-out of other trust funds is planned over the next year. Topics include revenue policy and administration, management of natural resource wealth, public financial management, sustainable debt strategies in low-income countries, financial sector stability and development in low-income countries.
As for combating the financing of terrorism, Romania is promoting the inter-state exchange of experience, and will host on Wednesday and Thursday at Bucharest, a regional seminar on this topic.
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