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p. 66 of 95 BACK | NEXT Message from the Chairman of the Board of Directors Members, Capital Stock and Voting Power The Record Abbreviations 2004 in Review: Board of Directors' Report Special Theme: The Changing Face of the Microfinance Industry: Building Financial Systems for the Poor Part 1: Institutional Effectiveness Part 2: Poverty Reduction Strategic Priorities Thematic Priorities Regional Perspectives East and Central Asia Mekong The Pacific Cook Islands Fiji Islands Kiribati Marshall Islands Micronesia, Federated States of Nauru Palau Papua New Guinea Samoa Solomon Islands Timor-Leste Tonga Tuvalu Vanuatu South Asia Southeast Asia Part 3: Financial Statements: Management's Discussion and Analysis

Annual Report 2004 : Part 2: Poverty Reduction : The Pacific

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Marshall Islands

Strategy and Policy Dialogue. The participatory strategy formulated and approved in 2004 pursued (i) enhanced public sector productivity aimed at improving access to basic social services; (ii) an enhanced environment for private sector investment, job creation, and growth; and (iii) strengthened public sector governance. The strategy fosters greater community participation in development. Assistance will include (i) a participatory review and reform of the civil service and rationalization of government assets including a stronger focus on urban areas and urgent attention to improving the management of urban waste disposal; (ii) engaging all relevant stakeholders to improve the environment for competitive private sector development; and (iii) further improvements in governance including regular reviews of public expenditure. Policy dialogue addressed the availability and security of land and other property in support of business and commerce, unnecessarily high transaction costs for businesses, and the lack of discernible progress in reforming the taxation system or strengthening tax collection administration.

Loans and Technical Assistance. No loans were approved in 2004. Two technical assistance activities totaling $910,000 were approved to improve the environment for private sector development and to increase ownership and effective demand for improved education as a pilot toward broader civil service reform.

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