MEDIA RELEASE
Released By:
Downer
The Australian Government is delighted by the decision of The World Bank
to establish an office in Australia. This office will cover The World
Bank's operations in East Timor, Papua New Guinea and the South Pacific
islands.
The decision to move the Bank's Pacific office from Washington to Sydney
is a result of the decentralisation initiative pursued under recent World
Bank reforms. These reforms aim to increase the Bank's responsiveness
to its clients. The relocation of the Pacific office to Sydney is expected
to provide improved services to the Asia Pacific region. The office would
also serve as a focal point for contacts between the Bank, the Australian
Government and civil society.
This move reflects a constructive and growing working relationship between
The World Bank and Australia a relationship which was boosted by cooperative
work during the Asian economic crisis.
The office is expected to be operational by July this year and, once
fully established, will employ around ten World Bank professional staff.
The office will be headed by Klaus Rohland - the World Bank's Director
for Papua New Guinea, Pacific and East Timor.
Australia today signed an agreement with The World Bank providing $10million
towards the Trust Fund for East Timor. This trust fund is the major international
funding arrangement for supporting East Timor's reconstruction and development.
Australia is the first country to sign an agreement with The World Bank
for contribution to the Trust Fund for East Timor.
| Media contacts: |
Niki Savva (Treasurer's Office) 02 6277 7340 |