The International Monetary Fund has launched the Institute for Capacity Development to spearhead its enhanced strategy for capacity-building services for its member countries.
These capacity-development efforts are aimed at helping member countries develop their skills base and build more robust economic and financial institutions.
The Institute, a new department incorporating the former IMF Institute and Office of Technical Assistance Management, will enable stronger synergies and better coordination between IMF technical assistance, training, and other elements of capacity development, to better adapt to member countries’ priorities and needs, and facilitate fund raising.
“Technical assistance and training are a core mandate of the Fund, along with surveillance and lending,” IMF Managing Director Christine Lagarde stated. “I am confident the new Institute for Capacity Development will take our activities in this area to a new level, making the best use of our own resources and those contributed by our donor partners.”
The IMF announced its decision to launch the new department in January 2012 following the Executive Board’s discussion in November 2011 of the Report of the Task Force on the Fund’s Technical Assistance Strategy.
The Institute for Capacity Development is mandated to further define and develop the Fund’s strategy on capacity building; coordinate the provision of technical assistance and training; deliver world class training to the Fund’s global membership; and strengthen partnerships with donors.
Bringing the oversight over technical assistance and training activities under one umbrella will also enable closer coordination across different capacity-building services at both country and regional levels, as well as with the Fund’s surveillance and lending operations.