Tuvalu Trust Fund - History

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:

    In the history of the United States, there is no continuity at all. You can cut through it anywhere and nothing on this side of the cut has anything to do with anything on the other side.
    Henry Brooks Adams (1838–1918)

    Only the history of free peoples is worth our attention; the history of men under a despotism is merely a collection of anecdotes.
    —Sébastien-Roch Nicolas De Chamfort (1741–1794)

    The disadvantage of men not knowing the past is that they do not know the present. History is a hill or high point of vantage, from which alone men see the town in which they live or the age in which they are living.
    Gilbert Keith Chesterton (1874–1936)