-
SARTTAC is a collaborative venture between the IMF, the member
countries (Bangladesh, Bhutan, India, Maldives, Nepal, and Sri
Lanka) , and development partners.
The IMF’s South Asia Training and Technical Assistance Center (SARTTAC) was
officially inaugurated by Secretary Shaktikanta Das of India’s Ministry of
Finance in New Delhi on February 13, 2017. Deputy Managing Director Carla
Grasso and senior officials from the center’s six South Asian member
countries (Bangladesh, Bhutan, India, Maldives, Nepal, and Sri Lanka) and
development partners attended the event. Less than a year after IMF
Managing Director Christine Lagarde and the Finance Minister of India, Arun
Jaitley, signed a Memorandum of Understanding to establish a capacity
development center for South Asia, the opening of SARTTAC marks a major
milestone in the partnership between the IMF and its member countries in
the region.
SARTTAC is a collaborative venture between the IMF, the member countries,
and development partners. The center’s strategic goal is to help its member
countries strengthen their institutional and human capacity to design and
implement macroeconomic and financial policies that promote growth and
reduce poverty.
South Asia is a rapidly growing region that is home to one fifth of the
world’s population. SARTTAC will allow the IMF to meet more of the high
demand for technical assistance and training from the region. Through its
team of international resident experts, SARTTAC is expected to become the
focal point for the delivery of IMF capacity development services to South
Asia.
SARTTAC, the newest addition to the IMF’s global network of fourteen
regional centers, is a new kind of capacity development institution, fully
integrating customized hands-on training with targeted technical advice in
a range of macroeconomic and financial areas, and generating synergies
between the two. SARTTAC is located in world class facilities in New Delhi
and is financed mainly by its six member countries — Bangladesh, Bhutan,
India, Maldives, Nepal, and Sri Lanka — with additional support from
Australia, the Republic of Korea, the European Union and the United
Kingdom.
Deputy Managing Director Grasso made the following statement: “I am very
appreciative of the strong partnerships and determined efforts of so many
that have paved the way for SARTTAC’s opening. I am confident that the
center will make a very strong contribution to capacity building in South
Asia, which is so important for sustainable economic development, growth,
and stability.”
Secretary Shaktikanta Das said: “SARTTAC is a pioneering initiative of the
Government of India and the IMF. This is the IMF’s first fully integrated
capacity development center, which brings together under one roof the two
building blocks of capacity development — training and technical
assistance. I am sure the center will build on this unique advantage, and
over time will evolve as a model for others to emulate.”
Background:
A global network of fourteen regional
technical assistance
and
training
centers anchor IMF support for economic institution building and are
complemented by global
thematic funds
for capacity development. They are financed jointly by the IMF,
external development partners, and member countries.
Follow IMF Capacity Development on Social Media:
Twitter:
@IMFCapDev
Facebook:
IMFCapacityDevelopment
www.imf.org/capacitydevelopment