Cook Islands: Ministry of Finance

National Systems

According to the Center for Global Development traditional aid is more effective when:

  • it is channelled through recipient countries’ own budgets and systems, making recipient governments primarily accountable to their own citizens for measured results (and not just to donors for tracking money);
  • full transparency to both taxpayers in donor countries and citizens in recipient countries including timely publication of disbursements and systematic reporting of results;
  • multilateral funding whenever possible to reduce the high transactions costs and the lack of predictability associated with more politically driven bilateral programs.

Applying such learning from development experience in the Cook Islands and internationally is driving changes to the Cook Islands ODA policy and informing action to improve aid and development effectiveness. Currently we are working hard with partners to improve national systems, develop national indicators and broaden the dissemination of development information and results.

While national accounts are being brought up to date, Development Coordination Division's (DCD) Audited Financial Statements are available online, up to date and audits are unqualified. This provides the level of trust necessary for major donors to pay ODA into DCD trust funds which facilitates coordination through the national budget process.

The main systems for partners to be aware of are the National Sustainable Development Commission (ODA allocation), annual development partners meetings (usually late January/early February leading into the budget) and the national budget process (July to June FY). 

For more information, see the links below:

Cook Islands Development Partners Policy  Peer Review - Development effectiveness in the Cook Islands
Information on the national budget process      Public Financial Management in the Cook Islands
National Sustainable Development Commission  Development Partners and Cook Islands Government meetings 
National Implementing Entity      ODA Coordination and Upcoming activities.
Audited Financial Statements   Te Tarai Vaka