The Court of Arms. Photo credit: Solomon Islands Government.

The Court of Arms. Photo credit: Solomon Islands Government.

The Solomon Islands Government is dedicated to reforms to deliver improved standards of public finance management, and private investment.

Permanent Secretary for Finance and Treasury, Fred Fakarii made the reassurance today in a joint SIG-World Bank statement that announced a US$5 million funding for the Economic Reform and Recovery Development Policy Operation.

According to the World Bank, the operation supports policy reforms in public expenditure and debt management; the mining sector; and private sector investment.

Some specific policy changes the Operation targets includes – transparency in awarding scholarships for tertiary education; the mining industry and streamlining the mining tax regime; and the establishment of a land board to improve governance of urban land and bolster private sector investment.

The US$5 million will be used to support continued economic and financial reform and provide rapid financing for the April flash flooding.

The Permanent Secretary for Finance, Fred Fakarii says the Government is committed to reforms to deliver improved standards of public finance management, and private investment.

Mr Fakarii also said recovery after the flash flooding is well underway, and the Government looks forward to continue working with
the World Bank.

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