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 history of literature—take the net result of Tiraboshi, Warton, or Schlegel,—is a sum of a very few ideas, and of very few original tales,—all the rest being variation of these.”
—Ralph Waldo Emerson (1803–1882)
“The second day of July 1776, will be the most memorable epoch in the history of America. I am apt to believe that it will be celebrated by succeeding generations as the great anniversary festival. It ought to be commemorated, as the day of deliverance, by solemn acts of devotion to God Almighty. It ought to be solemnized with pomp and parade, with shows, games, sports, guns, bells, bonfires and illuminations, from one end of this continent to the other, from this time forward forever more”
—John Adams (1735–1826)
“... all big changes in human history have been arrived at slowly and through many compromises.”
—Eleanor Roosevelt (1884–1962)