Development News

Development News

2016-2020 CIG PFM Roadmap

Cook Islands Government Public Financial Management Roadmap 2016-2020

The Cook Islands Government (CIG) Public Financial Management (PFM) Roadmap was developed to highlight and outline specific actions to improve weaknesses in the current public financial management system and to maintain areas of strength.

This latest PFM Roadmap, endorsed by Cabinet in November, builds on the success of the previous Roadmap for 2011-2015 by presenting agreed deliverables to improve key compenents of its Public Financial Management (PFM) systems, whilst at the same time addressing challenges identified in the 2015 Public Expenditure and Financial Accountability (PEFA) assessment.

The Roadmap will focus on the following areas:

  • Improving measures of transparency and accountability across Government;
  • Improving the timeliness of financial reporting
  • Further reducing systemic vulnerabilities to corruption;
  • Greater invovlvement of the lefislature in scrutinising public finances and the annual budget law;
  • Improved control in budget execution, and
  • Improving public fianncial management across Government. 

The document also provides the following:

  • Discussions on the broad challenges of the current PFM system;
  • Summarised the key PFM performance indicators and scores highlighted in PEFA; and
  • A roadmap of medium-term actions to be undertaken over 2016/2017 to 2019/2020 including responsible Fovernment agenvies and stakeholders for achieving improved results.

To view, download via the link below:

 - CKI Public Financial Management Roadmap 2016-2020


Japan Grant for Cultural Grassroots Projects (GCGP) open to the Cook Islands

The Japan Grant Assistance for Cultural Grassroots Projects (GCGP) is now available to the Cook Islands.

This grant is focused on supporting grassroots projects relating to promoting cultural and/or higher education. Such projects can include the procurement, transportation and installation of equipment and construction or restoration of facilities used for various cultural and higher educational activities and the preservation of cultural heritage. 

The Embassy of Japan in New Zealand accepts applications from the following organisations in the Cook Islands:

  • Non-Government Organisations (NGOs);
  • Local authorities; and
  • Research and Higher education Institutes

To make an initial submission, an Application Form can be sent directly to the Embassy of Japan in New Zealand. The Embassy of Japan accepts request papers on a year-round basis with grant funding available up to 10 million yen(~110K NZD)  per project.

The Application Form must include the following:

  • A detailed breakdown of the budget
  • A map showing the project site
  • A feasibility study of the project
  • Estimates of the good & services to be purchase (minimum 3 different supplies)
  • Document introducing the applying organisation (such as brochures)
  • A copy of the organisations regulations and annual budget

Applications can be sent directly to the Embassy of Japan at development@wl.mofa.go.jp

Download the guideline and application form below.

Implications of Graduation from DAC Eligibility for the Cook Islands

The Cook Islands is expected to graduate to high-income status, having exceeded the high-income threshold set by the World Bank for the past 3years.

The "graduation" is determined by the OECD's Development Advisory Committee (DAC); under DAC rules, financial assistance provided to the Cook Islands by external (DAC Member) donor partners will not be accorded the status of "Official Development Assistance"(ODA).

The following report, commissioned the Cook Islands Government and Ministry of Foreign Affairs and Trade (New Zealand), assesses the implications on the Cook Islands of its anticipated ODA graduation from upper middle income status to high income status, especially in regards to accessing financial and technical support.

Key points from the assessment report include:

  • Limited implications for the Cook Islands; in financial assistance over half of ODA provided from non-DAC sources
  • Small aid grants comprises between $10-20million/year from a wide range of donors which are not influenced by DAC graduation
  • Large capital grants to key infrastructure projects were committed prior to graduation, actual spending will also continue after.
  • Will not impact cost of borrowing, and no evidence to suggest cost of financing will increase post-graduation.

View the full report below: