TREASURY Minister Anne Craine MHK has welcomed progress being achieved in preparation for the 2010 Small Countries Financial Management Programme.

The Minister attended a meeting in Douglas this week to discuss the latest developments with members of the Programme’s Board, some of whom had travelled from Grenada, Mauritius, Samoa and Barbados.

This year’s education programme is taking place from July 12th to 23rd at the Isle of Man’s International Business School and the Said Business School at Oxford University.

It will aim to build on the foundations of the inaugural event in 2009 which proved successful in helping more than 20 small countries to respond to the global financial downturn and improve aspects of their corporate governance.

The Isle of Man Treasury has played a key role in developing and funding the Small Countries Financial Management Programme in partnership with the World Bank, Small States Network for Economic Development, Oxford University and Commonwealth Secretariat.

The initiative has been established to provide a tangible way in which the Island can use its financial expertise to benefit other small countries around the world.

Organisers work closely with Government officials, senior bankers and finance ministries on a range of important issues such as risk management and regulation, tax policy and transparency, budgeting and anti-money laundering legislation.

The aim is to promote the sustainable development of small state economies and give them a more powerful voice within the international community.

The Treasury Minister said, “As a centre of financial excellence, the Isle of Man is very pleased to have this opportunity to share our experience with small countries throughout the world.

“It was very satisfying to be able to meet up with delegates from last year’s conference, some of whom are now Members of the Board, and hear how the programme has been directly beneficial to the development of legislation and regulation in their own countries.

“It is recognised that in order to compete in the world of international financial services all those involved must try to achieve the highest standard of regulation. The delegates were extremely enthusiastic about the way in which the Isle of Man, a small country, has been able to support them through this collaborative and pragmatic approach.”