Australia signs Agreement with Timor-Leste on the Market Development Facility

Photo: Building Markets Blogs

 

PRESS RELEASE

Dili, 6 July 2012 - The Minister of Economy and Development, Sr João Gonçalves and the Australian Ambassador to Timor-Leste, Mr Miles Armitage , today signed a Subsidiary Arrangement on the implementation of the new Market Development Facility (MDF).

The MDF is a multi-country private sector development program and has already been launched in Fiji . It aims to increase the income and employment of poor people in Timor-Leste through greater participation in market chains. This means greater involvement in all stages of production, transportation, processing, selling and exporting of goods or services. Poor people need to participate in market chains for income, employment, food and other essential services. They need this to get out of poverty.

Mr Armitage highlighted that “the Market Development Facility program represents a new phase of Australian support to local industry and recognises the important role that the private sector plays in job creation and livelihood opportunities for the poor. Australia will inject AUD8.7 million into the program over the next three years to drive pro-poor market development in Timor-Leste.”

Minister Gonçalves emphasized his hope that this new program will create sustainable employment and income earning opportunities for women and men in rural and urban areas throughout the country.

MDF will work closely with potential partners from the private sector to turn ideas into activities that are commercially sustainable and will help to reduce poverty. As a partnership, MDF provides technical assistance and a cost sharing arrangement; while the partner implements the activity as a part of their core business model.

For further information please contact Gerard Cheong: +670 732 7718