In March 2009, the Fund established a new Framework Administered Account to administer external financial resources for selected Fund activities (the "SFA Instrument"). The financing of activities under the terms of the SFA Instrument is implemented through the establishment and operation of subaccounts under the SFA. This paper requests Executive Board approval to establish the Pacific Financial Technical Assistance Center (PFTAC) subaccount (the "Subaccount") under the terms of the SFA Instrument.
and territories in the Pacific islands region as well as donors on regional needs in capacity building, training and related activities. Because PFTAC has a proven track record to provide focused, flexible, and responsive technical assistance (TA) in a cost-effective manner, 1 both beneficiary countries and territoriesofPFTAC and interested donors are supportive to continue the Fund’s involvement in this regard. The center’s activities will continue to focus on five key areas representing common policy challenges to beneficiary countries and territoriesofPFTAC