Isle of Man: Small Countries Financial Management Programme
Overview
The agreed annual budget for this funding stream is £300,000.
The Small Countries Financial Management Centre (SCFMC) was established as a charity in the Isle of Man in June 2009. Its purpose is to contribute to the economic growth and prosperity of small developing countries through capacity building in their government financial sectors.
The SCFMC achieves this through the provision of targeted annual executive education programmes, conducted by practitioners and academics to provide improved skills and a deeper understanding of best practice around financial regulation, risk management, and broader management of government financial activities.
The Small Countries Financial Management Programme (SCFMP) brings together officials from finance ministries, central banks, and regulatory bodies in small developing countries for a two-week executive education programme designed to stimulate fresh approaches to the challenges they and their countries face.
Along with acquiring enhanced knowledge and new ways of approaching their seemingly intractable problems, the participants develop a sense of shared purpose and community of interest. A strong focus on financial integrity, prudent regulation, and economic management is complemented by sessions to improve leadership skills and the capacity to negotiate effectively.
Past participants act as catalysts for change and improvement within their governments, with the benefits accruing to their countries, not simply to the individual officials.
Elligibility
The selection of fully-funded participants will be based on the following criteria:
A candidate must normally be a national of a developing country that meets all of the following three conditions:
- Has a population of less than 1.5 million or has a larger population, but is, nevertheless, a member of the Small States Network for Economic Development (SSNED) OR has been determined by the board of the SCFMC to have small country characteristics in the financial sector, even thought the population may be slightly higher than 1.5 million
- Is a member country of the World Bank or the Asian Development Bank or is a dependent territory of a member country of the World Bank or the Asian Development Bank.
- Is eligible to borrow from the IBRD or IDA (or has recently secured such funding as part of a regional program to facilitate global public goods). In the case of an Asian Development Bank member country, a country must be eligible to obtain OCR or ADF loans.
A candidate must normally be a public sector official at senior (or, in certain instances, middle) management level from:
- The financial regulatory body; or
- The Central Bank or equivalent body; or
- The Ministry of Finance or Treasury or equivalent body.
In certain circumstances, an official from another department of government whose work is directly related to the finance sector will be considered.
A candidate's application must be endorsed by his or her government.
The maximum number of qualified applicants that will be accepted for participation from any one country will be two. A second place will not normally be allocated if the programme is fully subscribed.
Candidates should have a good knowledge of the English language.
VERY IMPORTANT: Selection will be positively influenced by the quality of the information provided in answer to the question on the application form that reads "Challenge/Problem to be addressed during Programme - Clearly describe the challenge/problem you wish to work on during the programme"
For a list of eligible countries visit the website here