“THE JOINT ADFIP- BCI RAROTONGA DECLARATIONS”
(Agreed and subscribed to by the delegates attending the 28th ADFIP Annual Meetings and Conference on “Breaking New Ground in Financing Development in the Pacific” hosted by the Bank of the Cook Islands on October 28- November 1, 2013 at the Edgewater Resort Conference Center, Rarotonga, Cook Islands.)
PREAMBLE
The Association of Development Financing Institutions in the Pacific (ADFIP), comprising of its 24 Development Finance members and other institutions engaged in the financing of sustainable development in the Pacific Islands Countries, do hereby promulgate the following joint declarations:
Declaration No. 1: Building for the Future
AWARE of the new global and local environments that member DFIs operate in, ADFIP is committing its collective human and institutional resources to implement the Strategic Plan 2014 – 2018 that aims to provide directions and working plans to take the Association to the next level of advancing sustainable development through finance and technical assistance.
Declaration No. 2: Developing a Common Standard on Key Performance Indicators for DFIs
RECOGNIZING the importance of performance management and measurement as means to be more efficient and to communicate to its stakeholders and constituencies, their organizational sustainability and development impact, ADFIP and its members will undertake to develop a common standard on key performance indicators for DFIs.
Declaration No. 3: Sourcing Funds for Members
ACKNOWLEDING that advancing sustainable development cannot be achieved without new sources of funds, ADFIP will strive to find new sources of funds such as, but not limited to, issuing bonds, considering the setting up of a regional fund or a financing facility, approaching bilateral and multilateral sources for Official Development Assistance (ODA), etc.
Declaration No. 4: Using Technology as a Tool for Development
HARNESSING new and available technologies, ADFIP will use these resources to further promote and advance its work and advocacy for the sustainable development of Pacific Island Countries.
Declaration No. 5: Enhancing ADFIP’s Reputational Strength and Visibility
COMMITING to be the premier focal point promoting knowledge, advocacy and financing of sustainable development in Pacific Island Countries, ADFIP and its members will work towards more recognition as a regional organization for DFIs and higher visibility in terms of presence in international events of significance, partnership with reputable development-oriented organizations, use of relevant media and other initiatives.
Adopted this 31st day of October 2013 in Rarotonga, Cook Islands