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Project Rationale and Linkage to Country/Regional Strategy |
The Tuvalu 2008-2010 Country Partnership Strategy (CPS) is underpinned by the 2006 joint development strategy between ADB and the Australian Agency for International Development (AusAID) and the subsequent Performance Benchmark Indicators (PBIs) formulated as a joint effort between the Government, ADB, AusAID and the New Zealand International Aid and Development Agency (NZAID) to promote improved public financial management. Tuvalu's national plan (Te Kakeega II) denotes the paramount goals of sustainable budgets and the effective use of resources to achieve public policy priorities, attainment of education and health objectives. The Government of Tuvalu (GOT) recognizes the need for correction in fiscal management and has adopted, in close coordination and consultation with the Board of the Tuvalu Trust Fund (TTF) and the development partners, a road map for greater fiscal control based on the PBIs. The PBIs adopted by the Government and agreed with ADB, AusAID, and NZAID are aimed at ensuring (i) prudent recurrent fiscal expenditures; (ii) maintenance of fiscal reserves; (iii) prudent debt management; (iv) prioritized basic education; and, (iv) improved primary health care and access. Each indicator has specific and measurable targets, which are regularly updated and linked to the objectives of the Te Kakeega II. In accordance with the CPS ADB has aligned its commitment to Te Kakeega II through a focus on improved public expenditure and financial management. |
