History
An agreement to establish the trust fund was signed in Suva on 16 June 1987 by representatives of the governments of Tuvalu, Australia, New Zealand and the United Kingdom. The initial amount invested by the latter three nations amounted to A$27.1 million. The United Kingdom withdrew from the agreement in 2004.
Through successful investment abroad, the initial assets of A$27 million grew to A$66 million in 2000 and A$100 million in 2010. This amount was achieved with the help of other international donors of Japan and South Korea. The government of the Tuvalu has set an "informal target" of A$100 million before it will stop reinvesting in the fund.
Read more about this topic: Tuvalu Trust Fund
Famous quotes containing the word history:
“The history of any nation follows an undulatory course. In the trough of the wave we find more or less complete anarchy; but the crest is not more or less complete Utopia, but only, at best, a tolerably humane, partially free and fairly just society that invariably carries within itself the seeds of its own decadence.”
—Aldous Huxley (1894–1963)
“When the landscape buckles and jerks around, when a dust column of debris rises from the collapse of a block of buildings on bodies that could have been your own, when the staves of history fall awry and the barrel of time bursts apart, some turn to prayer, some to poetry: words in the memory, a stained book carried close to the body, the notebook scribbled by hand—a center of gravity.”
—Adrienne Rich (b. 1929)
“A country grows in history not only because of the heroism of its troops on the field of battle, it grows also when it turns to justice and to right for the conservation of its interests.”
—Aristide Briand (1862–1932)