Fast tracked bill to launch pool for COP23 funds
A bill which will establish a fund to pool the finances required to organise the events and aims surrounding COP23 is expected to fast track through Standing Order 51 in Parliament today.
While tabling the COP23 Presidency Trust Fund Bill 2017 before Parliament, the Attorney-General, Aiyaz Sayed-Khaiyum, said there was a need to resource COP23.
Fiji was given the presidency of the 23rd of conference of the parties to the convention (COP23) in November last year.
The motion to fast track the Bill in such manner was passed in Parliament yesterday.
Mr Sayed-Khaiyum said the Prime Minister in his ministerial statement on Monday mentioned that he would be holding the presidency office of COP23.
He said it was an honour for Fiji.
Mr Sayed-Khaiyum said international partners had indicated that they wanted to help Fiji.
He said the conference of parties was the supreme decision making on the United Nations Framework on the Convention of Climate Change.
Mr Sayed-Khaiyum said there was a need for a transparent trust created in Fiji where interested development partners and agencies would be able to pool their funds in order to help Fiji with the presidency.
He said this would give the confidence to create and demonstrate to international agencies that there was a trust fund given the power and backing of Parliament.
Mr Sayed-Khaiyum said the gist of the Bill included that the provision of trust was very brief and sets out the purposes of the funds and what it would be used for.
He said in the Bill it would show the application of the funds, management of financial provisions, an audit was also in place and the audit would be carried out by an external auditor outside Government to carry out regular audits from the fund.
Mr Sayed-Khaiyum said the relevant ministry would provide a report every six months on the activities and expenditures of the funds
He said a report would be submitted to Cabinet within a six month period and a copy to be tabled before Parliament.
Edited by Rusiate Mataika
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