Donors are important in the growth of the Pacific economies says Narube

Submitted by Narayan24 on Tue, 02/09/2010 - 09:44

Savenaca Narube who was in Honiara last week made the comments during his presentation on the challenges of the global economic crisis in the region and the possible solutions to the problem.

He said development partners played a significant part in supporting economic activities from investment to budget support.

Mr Narube who is now a consultant with the Asian Development Bank (ADB), said Pacific island governments should work closely with the development partners.

“There should be a proper dialogue between the parties to ensure whatever the policies and road map plan the government have is being supported by the development partner."

“Not only that the partner can step in to assist with their professional advices,” he said.

Mr Narube said donor partners can help with the strengthening of the institution, support the structural changes, transfer knowledge, provide budgetary support and improve coordination.

He said the island nations are a small group of economies which needed support.

“In this growing global economic competition and hardship small island nation must continue to look for assistance and we cannot ignore that,” he said.

Mr Narube said Pacific island economies are vulnerable to big outside influences such as the recent economic down turn.

SOURCE: SOLOMON STAR/PACNEWS