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Statement by the Chairperson of the METAC Steering Committee
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ETAC’s annual report for Fiscal Year 2010 comes at an
important time as the second funding cycle concluded and the
third funding cycle (Phase III, FY2010–15) is launched.
Since its inception in 2004, METAC has made a considerable
contribution to capacity building in member countries by strengthening
institutions and developing the skills needed for effective economic
and financial management. The modality of delivering technical
assistance (TA) through METAC provides a flexible way of
responding to the region’s needs and proves to be very cost effective.
In delivering technical assistance and training in the core areas of the
IMF expertise, METAC succeeded in achieving tangible results and successes along the way.
In Lebanon, for example, METAC recently assisted in: (i) adopting the International Bank
Account Number (IBAN) in cross border bank transactions; (ii) training the banking control
commission on stress testing techniques; (iii) improving the workflow of the research and
statistics department at the Banque du Liban (BDL); and (iv) supporting revenue
administration modernization and the integration of the revenue and VAT directories. METAC
has also increasingly been active in providing outreach and regional knowledge-sharing
activities that are of benefit to the region.
The Steering Committee, in its June 2010 meeting, concurred with the findings of the recent
independent external evaluation that METAC is serving the region well, highlighting
METAC’s solid governance and high quality of its technical assistance. The Committee
provided strong backing for METAC’s new Phase strategy (May 2010 - April 2015), which
integrates (i) the adoption of a result-based management system to track the implementation of
its TA projects and activities; (ii) increased focus on regional activities including through
holding more workshops and networking that are of interest to the region; and (iii) the
promotion of the creation of regional associations to enhance knowledge sharing.
Lebanon has committed to host METAC and to support it financially and in kind. We will
continue to honor our commitment and will do our best to strengthen METAC and further
enhance its effectiveness. We consider that the presence of METAC in Beirut serves the
country’s aspiration of becoming a center of excellence in the knowledge economy.
On behalf of the Steering Committee, I would like to express my appreciation and gratitude for
METAC’s important achievements in FY2010 and I look forward to yet another successful
year. A financially sound METAC is in the best interest of the region. I call on all donors and
member countries to increase their financial support substantially for METAC so that it could
remain a viable center in service for the region.
Mrs. Raya Haffar El Hassan
Minister of Finance of Lebanon