The Steering Committee of the South Asia Regional Training and Technical Assistance Center had met earlier on February 13, 2017, after the inauguration of the Center. Officials from all Six (6) Member countries attended, together with the Development Partner representatives (the European Union, the United Kingdom, Australia, and USAID), and IMF staff.
SARTTAC, the newest addition to the IMF’s global network of fourteen regional centres, is a new kind of capacity development institution, fully integrating customized hands-on training with targeted technical advice in a range of macroeconomic and financial areas, and generating synergies between the two. It was inaugurated at Delhi in February 2017.
SARTTAC is financed mainly by its six member countries — Bangladesh, Bhutan, India, Maldives, Nepal, and Sri Lanka — with additional support from Australia, the Republic of Korea, the European Union and the United Kingdom.
SARTTAC’s strategic goal is to help its member countries strengthen their institutional and human capacity to design and implement macroeconomic and financial policies that promote growth and reduce poverty.
What does it do?
SARTTAC will allow the IMF to meet more of the high demand for technical assistance and training from the region. Through its team of international resident experts, SARTTAC is expected to become the focal point for the delivery of IMF capacity development services to South Asia.