Financial Crime World

Tuvalu National Provident Fund Receives Boost from Technical Assistance Program

Enhancing Public Enterprises and Financial Management Systems in Tuvalu

The Tuvalu National Provident Fund (TNPF) has received significant benefits from a technical assistance program aimed at strengthening the country’s public enterprises and financial management systems. The program, provided by the Asian Development Bank (ADB), was implemented over a two-year period and focused on enhancing the capacity of TNPF staff, as well as public enterprise directors and accountants.

Program Objectives

  • Improve skills in financial analysis, procurement, and hotel management
  • Enhance capacity of TNPF staff, public enterprise directors, and accountants
  • Strengthen financial management systems in Tuvalu

Key Milestones

  • Development of a procurement manual and guidance notes for Public Enterprise and Reform Monitoring Unit (PERMU) and Central Procurement Unit (CPU) staff
  • Financial analysis workshops for 22 PE directors and prospective directors
  • Training on MYOB accounting software for two PERMU directors and five accountants
  • Recommendations to uplift performance and service of the Funafuti Lagoon Hotel
  • Development of an employee handbook for hotel staff

Actual Key Activities with Milestones

  • Contracted all consultants by February 2018
  • Developed capacity building and training plans by April 2018
  • Conducted financial analysis workshops for PE directors and prospective directors over the TA period
  • Provided support to CPU and PERMU staff over the TA period

Funding and Counterpart Support

  • Total cost of the program: $597,582.06 funded by the Asian Development Bank
  • Counterpart support from the government of Tuvalu in the form of:
    • Staff
    • Office accommodation
    • Other in-kind contributions

Program Outcomes

The program has achieved several significant outcomes, including:

  • Strengthening financial management systems in Tuvalu
  • Enhancing capacity of TNPF staff and public enterprise directors and accountants
  • Improving skills in financial analysis, procurement, and hotel management
  • Development of a procurement manual and guidance notes for PERMU and CPU staff

Conclusion

“The technical assistance program has been instrumental in enhancing our capacity and knowledge in financial management, procurement, and hotel operations,” said a spokesperson for TNPF. “We are grateful to the ADB for their support and look forward to continuing our partnership to improve our services.”