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p. 73 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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Timor-Leste

Strategy and Policy Dialogue. The strategy identified reducing poverty and improving the people's quality of life through equitable and sustainable economic growth as its main objectives. This is consistent with the national development plan formulated in 2002 and its associated road map. ADB assistance focused on (i) support for physical infrastructure investment projects funded through the multidonor trust fund for Timor-Leste; (ii) support for microfinance development by enhancing the sustainability of the microfinance institution; and (iii) establishing appropriate institutional, policy, and regulatory frameworks in selected ministries, in particular through capacity development in the water sector and in public financial management. Technical assistance was provided to strengthen government capacity in planning for and managing the revenues from the Timor Sea oil and gas fields. Support was also provided to develop sector investment programs to strengthen the links between the national development plan and the national budget. Local government capacity was strengthened through the provision of a comprehensive training effort to local district administrators. Timor-Leste is eligible to access ADF IX funds as a result of its classification as a poor, postconflict country.

Loans and Technical Assistance. No loans were approved in 2004. ADB approved three technical assistance activities amounting to $900,000 for capacity building in the ministry of planning and finance to monitor the national development plan to strengthen microfinance operations, and to strengthen financial management capacity.

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