|Title||Caribbean Regional Technical Assistance Centre - Phase III|
|Maximum CIDA Contribution||$ 25,000,000|
|Executing Agency - Partner||UNDP - United Nations Development Programme|
|Start - End||2008 - 2011|
Public finance management (015111): 50%
Public sector policy and administrative management (015110): 50%
The Caribbean Regional Technical Assistance Centre (CARTAC) provides technical assistance and training to Caribbean countries in core areas of economic and financial managment. CARTAC focuses on improving the ways Caribbean countries collect and increase tax revenues and ensuring that these revenues are better controlled through effective public expenditure. CARTAC is supported by multiple donors.
This project is implemented by the International Monetary Fund (IMF) with CIDA funds administered by the United Nations Development Program (UNDP).
|This is a new feature, part of CIDA's efforts towards increasing transparency. Information will only be available for projects approved after October 15, 2011. For other projects, information on expected results is usually included in the description.|
|Progress and Results Achieved|
|Results as of March 31, 2011 (end of project) include: five countries have introduced simpler and more efficient value-added taxes (VAT); six countries are modernizing their customs systems and procedures using risk management techniques resulting in trade facilitation; eight countries have adopted public financial management reform action plans; two countries have adopted a global approach to fiscal management, including developing medium-term targeted fiscal frameworks. CARTAC also supported bank supervision and bank stress testing in the Eastern Caribbean Currency Union (ECCU - eight countries) and three other countries, insurance supervision in the ECCU, and supervision of credit unions in one country. CARTAC assisted the ECCU and Guyana to update the calculation of their national accounts.|
|Contracts, Grants and Contributions|