IMF launches Institute for Capacity Development
21 May 2012
The International Monetary Fund (IMF) has merged its technical assistance and training activities to form a new department, the Institute for Capacity Development. The new Institute aims to strengthen synergies and better coordination between IMF technical assistance, training, and other elements of capacity development, to enable member countries to develop their skills base and build more robust economic and financial institutions. Seven Regional Training Centers and training programmes in Austria, Brazil, China, India, Kuwait, Singapore, and Tunisia will supplement training offered at IMF headquarters and enable the IMF to adapt its training to local needs.
In addition, a Strategy and Evaluation Division created within the new department will ensure that the Fund’s evolving capacity-building strategy is aligned with members’ requirements, and report regularly to the IMF’s Executive Board on the delivery and quality of capacity-development services. Fund-raising and relationships on these matters with donors, who have financed an increasing share of the IMF’s capacity-building operations in recent years, will be consolidated under a Global Partnerships Division within the Institute to ensure better coordination.
The IMF also has eight Regional Technical Assistance Centers—four in Africa and the others in the Caribbean, Latin America, the Middle East, and the Pacific. An additional center in West Africa is expected to open in early 2013.