[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-111618-en":3,"doc-seo-111618-105":28,"detail-sidebar-cat-0-en-105":88},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":4,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":20,"language":21,"language_code":22,"site_id":23,"html_lang":22,"table_of_contents":24,"faqs":25,"seo_title":13,"seo_description":14,"update_tm":26,"read_time":27},111618,7971461740886,"Theodore","https://ap-avatar.wpscdn.com/davatar_3d24733baf745e90a7e4bdd5f77d97b2",8,"Research & Report","Pacific Strengthening Correspondent Banking Relationships Project - Chair Summary - August 29, 2024","Chair Summary for the Pacific Strengthening Correspondent Banking Relationships Project dated August 29, 2024, covering Executive Directors’ approval of a US$68 million financing envelope under the President’s Memorandum. The summary highlights an innovative Pacific-focused, regionally oriented response to correspondent banking challenges for small states, combining immediate urgent support with promotion of AML/CFT standards and a feasibility study for sustainable derisking. Directors also stress using global lessons, addressing implementation capacity constraints, and maintaining World Bank support to accelerate alignment with international AML/CFT requirements and deeper collaboration.","Public Disclosure Authorized Public Disclosure Authorized  \nFiji, Kiribati, Marshall Islands, Samoa, Tonga, Tuvalu, Vanuatu, and the  \nPacific Islands Forum  \nPacific Strengthening Correspondent Banking Relationships Project  \nChair Summary*  \nAugust 29, 2024  \nExecutive Directors approved a financing envelope of US$68 million for the Pacific Strengthening Correspondent Banking Relationships Project, on the terms and conditions set out in the President’s Memorandum.  \nDirectors welcomed the project for its innovative solution to correspondent banking issues in the Pacific, emphasizing the importance of a regional approach for small states and potential replication in other similar countries and regions.  \nDirectors appreciated the project's dual approach of providing immediate and urgent support and promoting AML/CFT standards, along with a feasibility study for a lasting derisking solution. They welcomed the incorporation of lessons learned from global experiences, particularly from the Caribbean, while recognizing the implementation capacity challenges in the Pacific. They called for continued World Bank support and faster alignment and compliance with international AML/CFT standards by Pacific Island Countries.  \nDirectors commended the project's regional collaboration and urged ongoing strengthening of partnerships and engagement with other development partners, especially on critical structural reforms.  \n*This Summary is not an approved record.","cbCaidVBHsBU9gcz","https://ap.wps.com/l/cbCaidVBHsBU9gcz","pdf",61537,1,"English","en",105,"# Executive Directors’ approval\n## Financing envelope and terms\n## Rationale and approach\n## AML/CFT standards and derisking feasibility\n# Implementation and recommendations","[{\"question\":\"What financing approval was made for the Pacific Strengthening Correspondent Banking Relationships Project?\",\"answer\":\"Executive Directors approved a financing envelope of US$68 million under the terms and conditions set out in the President’s Memorandum.\"},{\"question\":\"What are the project’s core components discussed in the Chair Summary?\",\"answer\":\"The project uses a dual approach: immediate and urgent support, promotion of AML/CFT standards, and a feasibility study for a lasting derisking solution.\"},{\"question\":\"What actions and priorities do Directors call for after approval?\",\"answer\":\"Directors urge continued World Bank support, faster alignment and compliance with international AML/CFT standards, and ongoing strengthening of regional partnerships and engagement with other development partners, especially for structural reforms.\"}]",1784490940,3,{"code":4,"msg":29,"data":30},"ok",{"site_id":23,"language":22,"slug":31,"title":13,"keywords":32,"description":14,"schema_data":33,"social_meta":83,"head_meta":85,"extra_data":87,"updated_unix":26},"pacific-strengthening-correspondent-banking-relationships-project-chair-summary-august-29-2024","",{"@graph":34,"@context":82},[35,51,65],{"@type":36,"itemListElement":37},"BreadcrumbList",[38,42,46,48],{"item":39,"name":40,"@type":41,"position":20},"https://docshare.wps.com","Home","ListItem",{"item":43,"name":44,"@type":41,"position":45},"https://docshare.wps.com/document/","Document",2,{"item":47,"name":12,"@type":41,"position":27},"https://docshare.wps.com/document/research-report/",{"item":49,"name":13,"@type":41,"position":50},"https://docshare.wps.com/document/pacific-strengthening-correspondent-banking-relationships-project-chair-summary-august-29-2024/111618/",4,{"url":49,"name":13,"@type":52,"author":53,"headline":13,"publisher":55,"fileFormat":58,"inLanguage":22,"description":14,"dateModified":59,"datePublished":59,"encodingFormat":58,"isAccessibleForFree":60,"interactionStatistic":61},"DigitalDocument",{"name":9,"@type":54},"Person",{"url":39,"name":56,"@type":57},"DocShare","Organization","application/pdf","2026-07-19",true,{"@type":62,"interactionType":63,"userInteractionCount":4},"InteractionCounter",{"@type":64},"ViewAction",{"@type":66,"mainEntity":67},"FAQPage",[68,74,78],{"name":69,"@type":70,"acceptedAnswer":71},"What financing approval was made for the Pacific Strengthening Correspondent Banking Relationships Project?","Question",{"text":72,"@type":73},"Executive Directors approved a financing envelope of US$68 million under the terms and conditions set out in the President’s Memorandum.","Answer",{"name":75,"@type":70,"acceptedAnswer":76},"What are the project’s core components discussed in the Chair Summary?",{"text":77,"@type":73},"The project uses a dual approach: immediate and urgent support, promotion of AML/CFT standards, and a feasibility study for a lasting derisking solution.",{"name":79,"@type":70,"acceptedAnswer":80},"What actions and priorities do Directors call for after approval?",{"text":81,"@type":73},"Directors urge continued World Bank support, faster alignment and compliance with international AML/CFT standards, and ongoing strengthening of regional partnerships and engagement with other development partners, especially for structural reforms.","https://schema.org",{"og:url":49,"og:type":84,"og:title":13,"og:site_name":56,"og:description":14},"article",{"robots":86,"canonical":49},"index,follow",{"doc_id":7,"site_id":23},{"code":4,"msg":5,"data":89},[90,94,98,102,107,112,117,120,125,128,132],{"id":20,"doc_module":4,"doc_module_name":44,"category_name":91,"show_sort_weight":92,"slug":93},"Story & Novel",90,"story-novel",{"id":45,"doc_module":4,"doc_module_name":44,"category_name":95,"show_sort_weight":96,"slug":97},"Literature",80,"literature",{"id":50,"doc_module":4,"doc_module_name":44,"category_name":99,"show_sort_weight":100,"slug":101},"Exam",70,"exam",{"id":103,"doc_module":4,"doc_module_name":44,"category_name":104,"show_sort_weight":105,"slug":106},5,"Comic",60,"comic",{"id":108,"doc_module":4,"doc_module_name":44,"category_name":109,"show_sort_weight":110,"slug":111},6,"Technology",50,"technology",{"id":113,"doc_module":4,"doc_module_name":44,"category_name":114,"show_sort_weight":115,"slug":116},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":44,"category_name":12,"show_sort_weight":118,"slug":119},30,"research-report",{"id":121,"doc_module":4,"doc_module_name":44,"category_name":122,"show_sort_weight":123,"slug":124},9,"Religion & Spirituality",20,"religion-spirituality",{"id":123,"doc_module":4,"doc_module_name":44,"category_name":126,"show_sort_weight":123,"slug":127},"World Cup","world-cup",{"id":129,"doc_module":4,"doc_module_name":44,"category_name":130,"show_sort_weight":129,"slug":131},10,"Lifestyle","lifestyle",{"id":133,"doc_module":4,"doc_module_name":44,"category_name":134,"show_sort_weight":103,"slug":135},19,"General","general"]