Business

Capacity building the way forward: Prasad

June 16, 2023 12:24 pm

[Source: Josua Namoce/ Flickr]

Finance Minister Professor Biman Prasad has underscored the importance of enhancing capacity within crucial government institutions to effectively utilize aid provided by international donors.

Responding to a query regarding Australia’s Department of Foreign Affairs and Trade review, which revealed that despite receiving a higher per capita aid, the Pacific region struggled to achieve desired outcomes.

The Minister says there is a necessity for capacity building to address this issue.

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“It’s not a generalization, just from my own experience and it also applies to getting good project proposals-you go to ADB, you go to World Bank, you talk to international donors. Invariably, the effectiveness of what they give will depend on the effectiveness and efficiency and the ability of those who want support to identify areas and once that is done, it’s the implementation and the biggest problem with aid you know funds in the Pacific, I think is the implementation, the effectiveness of the implementation.”

Having assumed office just five months ago, Prasad states that the prevailing weakness in the Pacific Island countries, their governments, and regional institutions despite budgetary allocations and existing commitments.

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