History
An agreement to establish the trust fund was signed in Suva on 16 June 1987 by representatives of the governments of Tuvalu, Australia, New Zealand and the United Kingdom. The initial amount invested by the latter three nations amounted to A$27.1 million. The United Kingdom withdrew from the agreement in 2004.
Through successful investment abroad, the initial assets of A$27 million grew to A$66 million in 2000 and A$100 million in 2010. This amount was achieved with the help of other international donors of Japan and South Korea. The government of the Tuvalu has set an "informal target" of A$100 million before it will stop reinvesting in the fund.
Read more about this topic: Tuvalu Trust Fund
Famous quotes containing the word history:
“The whole history of civilisation is strewn with creeds and institutions which were invaluable at first, and deadly afterwards.”
—Walter Bagehot (1826–1877)
“I assure you that in our next class we will concern ourselves solely with the history of Egypt, and not with the more lurid and non-curricular subject of living mummies.”
—Griffin Jay, and Reginald LeBorg. Prof. Norman (Frank Reicher)
“In history the great moment is, when the savage is just ceasing to be a savage, with all his hairy Pelasgic strength directed on his opening sense of beauty;—and you have Pericles and Phidias,—and not yet passed over into the Corinthian civility. Everything good in nature and in the world is in that moment of transition, when the swarthy juices still flow plentifully from nature, but their astrigency or acridity is got out by ethics and humanity.”
—Ralph Waldo Emerson (1803–1882)