CTI-CFF Financial Architecture Feasibility Study Approved

The CTI-CFF Council of Ministers (CTICOM) approved the conduct of a feasibility study in 2013 to support the draft CTI-CFF Financial Architecture put forward by the Asian Development Bank during the 8th CTI Senior Officials Meeting in Kuala Lumpur on November 22-23, 2012.

The CTICOM, which is the foremost decision making body of the CTI-CFF and is composed of Ministers from the six member countries.  agreed that a draft scope of work would be circulated for finalization by April 2013 to allow for immediate implementation upon CT6 clearance.  The feasibility study will: investigate options for financial mechanisms including assessment of current funding mechanisms; assesses the feasibility of creating a regional fund; assesses options of the role of the Regional Secretariat in the financial mechanisms of the CTI; and suggests goals, targets and strategies for the effective funding and implementation of the Regional Plan of Action and National Plans of Actions.

Apart from the feasibility study, the CTI-CFF also marked a milestone in ensuring funding for the Regional Secretariat’s operations. By signing the agreement to establish the permanent Regional Secretariat, Indonesia, Malaysia, Solomon Islands and Timor-Leste have also agreed to expedite the establishment of appropriate arrangement for the CTI-CFF Regional Secretariat to receive financial contributions for their operation.