The Nauru Government has moved to set up an internationally managed trust fund so that the country's financial future is secure for generations to come.
The minister for finance David Adeang held talks with senior officials of the governments of Australia, China, and the Asian Development Bank earlier this month regarding the proposed establishment of the Nauru Trust Fund.
Mr Adeang says the aim is to establish a financial investment vehicle to assist the Republic to achieve greater financial autonomy in the long term.
The trust fund is envisioned to include financial contributions from Nauru and partner countries, with a build-up period estimated at 20 years allowing for an accumulation of contributions and investment returns.
The next meeting will be held in April to consider the final report.
