National Systems & Policy
The Ministry of Finance and Economic Management operates within a framework established by legislation, national systems and policies and is committed to providing stakeholders with a clear understanding of the national systems and policies that govern our organisation.
Our commitment to transparency and accountability is at the core of our operations.
Grant Award Policies, Procedures and Guidelines
The Ministry of Finance and Economic Management (MFEM) administers grants provided by various development partners to government agencies, non-government and civil society organisations for the purposes of providing a service to the community, and building local and national resilience.
In building the robust relationship between the MFEM and the grant award recipient, the following broad based principles were developed to enhance the quality of processes and outcomes in the funding relationship between the MFEM and the grant awardee.
Grant Management Policy and Procedures
This Policy Statement and accompanying guidelines are provided to support the MFEM and the grant recipient to engage in consistent and good grant administration.
Getting grant administration right is an essential part of ensuring the relationship between the MFEM and the grant award recipient works well, for the benefit of the community.
Grant Award Guidelines
This document outlines the requirements that applicants must consider when accessing a grant that is administered by the Ministry of Finance and Economic Management (MFEM).
Grant Award Evaluation Procedure
This document describes the procedure used for the evaluation of grant requests by the Ministry of Finance and Economic Management (MFEM), and in particular the Development Coordination Division (DCD). It targets strengthening the capacities of the Ministry in the management of funds across different climate financing mechanisms, including, but not limited to, the Adaptation Fund and the Green Climate Fund.
Counselling and Advice Practices
This document describes the practices that will be used by the Ministry of Economic Finance and Economic Management (MFEM), to assess the need of project and program beneficiaries for counselling and advice, in order to implement the required support activities related to a Grant Award.
It has been developed as part of strengthening the MFEM capabilities, in the management of funds administered by the MFEM, across different climate financing mechanisms, and other development partners.
Environment and Social Safeguards Framework
The Government of the Cook Islands Environmental Social Safeguards Framework sets out the Government’s commitment to sustainable development. Through this Environmental Social Safeguards Framework, Government will enhance the implementation for all projects planned and implemented in the Cook Islands.
It is also aligned to the international conventions that the Cook Islands has signed, ratified and has committed to, under the umbrella of the following United Nations bodies: World Health Organization (WHO), International Labour Organization (ILO), Food and Agricultural Organization (FAO), United Nations Educational Scientific and Cultural Organization (UNESCO), United Nations Framework Convention on Climate Change (UNFCCC) and the United Nations Convention on Biodiversity, United Nations Convention on the Rights of Child (UNCRC), United Nations Convention on the Elimination of Discrimination Against Women (CEDAW), and the United Nations Convention on the Rights of Persons with Disability.
The MFEM Gender Policy reinforces the recognition in the National Policy on Gender Equality and Women’s Empowerment that women and men are equal partners in the development of the Cook Islands. Therefore, gender equality should be at the heart of economic and social progress.
Through this Policy, MFEM hopes to work with other parts of the machinery of Government, civil society, non-government organisations, development partners and communities to consider the different roles, needs and perceptions of women and men during the planning, implementation, and management of projects supported through MFEM.
External Communication Procedure
This document describes the impartial complaints handling procedure of the MFEM who is committed to observe the highest ethical, legal and moral standards in the project that the Ministry funds and coordinates relating to Grants Awards Policy, Environmental and Social Safeguards and the Gender Policy.
Written complaint can be delivered to the Development Coordination Division (DCD) of MFEM, second floor of the MFEM building, Avarua, Rarotonga. Phone: +682 29521
Anti-Money Laundering and Counter Terrorism Policy
The Cook Islands has a reputation as a sound and well-regulated jurisdiction. It is essential for the country to maintain this reputation in order to continue attracting legitimate investors with funds and assets that are untainted by criminality.
This Policy aims to provide the perspective of the MFEM on money laundering and financing terrorism and the actions that it will undertake to prevent money laundering and financing terrorism. The Policy is aligned to the Practice Guidelines for Financial Transactions Reporting Act 2017, issued by the Financial Intelligence Unit, in August 2017.
Anti-Fraud and Anti-Corruption Policy
The Cook Islands have ratified the United Nations Convention Against Corruption (“UNCAC”) which acknowledges that “corruption hurts the poor disproportionately undermines a governments ability to provide basic services, feeding inequality and injustice and discouraging foreign aid and investment. Corruption is a key element in economic underperformance and a major obstacle to
poverty alleviation and development” (UNCAC, 2004, p.iii).
In this context, the Ministry of Finance and Economic Management (MFEM), has developed this Anti-Fraud and Anti-Corruption Policy.
The Ministry of Finance and Economic Management (MFEM) considers fraud and corruption as detrimental to the realisation of the vision and objectives of the Ministry. As such, the MFEM has adopted an Antifraud and Anticorruption Policy.