26 Oct 2005

Tokelau forecasts big jump in its trust fund account

11:08 am on 26 October 2005

Tokelau,which today becomes an observer at the Pacific Islands Forum summit, believes it can grow its trust fund by more than fifty percent this week.

The territory is heading towards self determination in association with New Zealand and has been building a trust fund for a number of years to give some assurance as it takes control of its affairs.

Neil Walter is the New Zealand government administrator of the atolls.

He says the fund is now at 16 million New Zealand dollars and he is expecting announcements of substantial top ups over the next few days.

"We would be hopeful that by the end of this week, with additional offers yet to come in from some countries, that Tokelau will have a trust fund of the order of 25 million dollars."