Structure
In order to avoid mismanagement and corruption that has plagued many other Pacific trust funds, the government established a management structure that includes:
- Board of Directors, with each appointed by an original donor
- Professional fund management
- International, external auditors
- Advisory committee (each original donor has a member on the committee)
One important element of the fund in order to avoid overdrawing to fund unauthorised projects, is the "separation of fund capital from fund proceeds available for distribution."
Read more about this topic: Tuvalu Trust Fund
Famous quotes containing the word structure:
“Who says that fictions only and false hair
Become a verse? Is there in truth no beauty?
Is all good structure in a winding stair?
May no lines pass, except they do their duty
Not to a true, but painted chair?”
—George Herbert (1593–1633)
“... the structure of our public morality crashed to earth. Above its grave a tombstone read, “Be tolerant—even of evil.” Logically the next step would be to say to our commonwealth’s criminals, “I disagree that it’s all right to rob and murder, but naturally I respect your opinion.” Tolerance is only complacence when it makes no distinction between right and wrong.”
—Sarah Patton Boyle, U.S. civil rights activist and author. The Desegregated Heart, part 2, ch. 2 (1962)
“The philosopher believes that the value of his philosophy lies in its totality, in its structure: posterity discovers it in the stones with which he built and with which other structures are subsequently built that are frequently better—and so, in the fact that that structure can be demolished and yet still possess value as material.”
—Friedrich Nietzsche (1844–1900)