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 proposed 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; assess the feasibility of creating a regional fund; evaluate options for the role of the Regional Secretariat in the financial mechanisms of the CTI; and suggest goals, targets, and strategies for the effective funding and implementation of the Regional Plan of Action and National Plans of Action.

Apart from the feasibility study, the CTI-CFF also marked a milestone in securing 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 agreed to expedite the establishment of appropriate arrangements for the CTI-CFF Regional Secretariat to receive financial contributions for its operations.