THE Island's Treasury Minister addressed the World Bank Forum in Washington last week – highlighting the success of the Small Countries Financial Management Programme.

In the presentation, delivered at the annual meeting of the World Bank and International Monetary Fund, Mrs Craine provided an update on the SCFMP – a major initiative led by the Isle of Man Government in partnership with the World Bank, Commonwealth Secretariat, Small States Network for Economic Development, and the University of Oxford.

The Minister explained how the executive education and capacity-building programme allowed the Isle of Man to share its financial expertise to benefit small developing countries around the world.

She said: "The results have been breathtaking. There has been a sea change and an understanding that there needs to be channels by which small states can have their voices heard by the much larger economies of the world.

"What I have come to realise, after attending the Conservative Party Conference and World Bank/IMF event in Washington, is that we need to make greater engagement at every level if we are to position the Isle of Man where we need to be on the world stage."

The meeting brought together central bankers, ministers of finance, private sector executives and leading academics to discuss issues of global concern including the world economic outlook.

Mrs Craine also said that the programme was helping to promote positive awareness of the Island. She said: "The programme has generated tremendous prestige and recognition for our small nation at the very highest level.

"It was repeatedly commented upon and, when introducing myself as the Treasury Minister of the Isle of Man, it was a point of recognition and praise. And it is at that highest level that we have to place the Isle of Man."

Speaking immediately after the Minister the President of the World Bank, Robert Zoellick, acknowledged that international organisations needed to take into account the views and interests of small countries.

He indicated a willingness for the World Bank to act as the conduit to give nations such as the Isle of Man access into powerful decision making bodies - particularly the G20.

During her visit to Washington Mrs Craine also attended the Commonwealth Finance Ministers Meeting alongside many of the world's leading finance ministers including UK Chancellor George Osborne MP.

The total cost of the Minister's trip to Washington was £2,200. This included flights and accomodation for four days and three nights.