relationships with the Chamber of Commerce, the The IFC will: further contributions will be Ministry of Finance, the Ministry of Justice, the considered in future years. Assist AusAID to better understand the economy of Timor-Leste, Ministry of Commerce, Industry and Environment, the perceptions of key stakeholders, and the potential for the Central Bank of Timor-Leste and other banks economic policy reform to contribute to economic growth. including ANZ and Bank Mandiri, and microfinance institutions Moris Rasik and Tuba Rai Metin (TMR), Look for opportunities to make a contribution to an economic and the business sector. regulatory framework that supports sustainable economic development and poverty reduction. Mandate Under its four year strategy, released in – March 2013, the IFC will continue to focus on private sector development. It will keep working on the business environment, particularly access to finance and barriers to entrepreneurship, and to encourage private involvement in infrastructure development such as ports and airports. Inclusive Finance for an Economy Outcome two of the Governance for Development Program is for the AusAID recently extended its (INFUSE) government to make decisions about economic policies that support arrangement to fund INFUSE sustainable economic development and poverty reduction. As part of this at no cost until June 2014. A Jointly executed by the United Nations Development outcome, AusAID will work to build its own understanding of economic design process for GfD’s Program (UNDP) and the United Nations Capital policy priorities for Timorese decision-makers. It will also decide whether future engagement will be Development Fund (UNCDF) to work on select economic policy priorities. conducted in the coming months. Future funding Capabilities it has expertise in banking and – INFUSE will: allocations will be financial services. determined through this assist AusAID to better understand the economy of Timor-Leste, Relevant relationships and understanding it process. – the perceptions of key stakeholders, and the potential for started in 2008 and has working level relationships economic policy reform to contribute to economic growth. with the Central Bank of Timor-Leste (BCTL), microfinance institutions Moris Rasik and Tuba Rai
relationships with the Chamber of Commerce, the Ministry of Finance, the Ministry of Justice, the Ministry of Commerce, Industry and Environment, the Central Bank of Timor-Leste and other banks including ANZ and Bank Mandiri, and microfinance institutions Moris Rasik and Tuba Rai Metin (TMR), and the business sector. Mandate – Under its four year strategy, released in March 2013, the IFC will continue to focus on private sector development. It will keep working on the business environment, particularly access to finance and barriers to entrepreneurship, and to encourage private involvement in infrastructure development such as ports and airports. The IFC will: Assist AusAID to better understand the economy of Timor-Leste, the perceptions of key stakeholders, and the potential for economic policy reform to contribute to economic growth. Look for opportunities to make a contribution to an economic regulatory framework that supports sustainable economic development and poverty reduction. further contributions will be considered in future years. Inclusive Finance for an Economy (INFUSE) Jointly executed by the United Nations Development Program (UNDP) and the United Nations Capital Development Fund (UNCDF) Capabilities – it has expertise in banking and financial services. Relevant relationships and understanding – it started in 2008 and has working level relationships with the Central Bank of Timor-Leste (BCTL), microfinance institutions Moris Rasik and Tuba Rai Outcome two of the Governance for Development Program is for the government to make decisions about economic policies that support sustainable economic development and poverty reduction. As part of this outcome, AusAID will work to build its own understanding of economic policy priorities for Timorese decision-makers. It will also decide whether to work on select economic policy priorities. INFUSE will: assist AusAID to better understand the economy of Timor-Leste, the perceptions of key stakeholders, and the potential for economic policy reform to contribute to economic growth. AusAID recently extended its arrangement to fund INFUSE at no cost until June 2014. A design process for GfD’s future engagement will be conducted in the coming months. Future funding allocations will be determined through this process.
timor-leste-governance-for-development-investment-design.docx