Technical Assistance in Support of the Pacific Financial Technical Assistance Centre in the Pacific Island CountriesThis evaluation covers the general operations of Pacific Financial Technical Assistance Centre from its inception in 1993, and looks for opportunities to comment on the effectiveness of ADB's technical assistance support.
Between December 1994 and December 2004, the Asian Development Bank (ADB) approved seven technical assistance (TA) grants totaling $3.6 million to support the operation of the Pacific Financial Technical Assistance Centre (PFTAC).
The objectives of PFTAC were based on an analysis of the development experiences in the Pacific island countries (PICs), which lack the institutional capacity to implement effective policies. Their generally small size and remoteness from major markets are important handicaps that cannot be overcome easily.
The performance of PFTAC has been rated by relevance, effectiveness, efficiency, and sustainability over the four main areas of service delivery: (i) public financial management, (ii) tax administration and policy, (iii) banking regulation and supervision, and (iv) macroeconomic and financial statistics. Overall PFTAC is assessed as being successful. Its work on bank supervision was found to be the most successful element. The report also provides lessons and recommendedations.