1. The Small Countries Financial Management Centre (SCFMC) is a charity registered in the Isle of Man (number 1044) and it is also a company limited by guarantee. It carries out a range of activities in accordance with its charitable registration, including but not limited to facilitating an annual leadership development programme.

2. At the centre of the SCFMC’s mission is a belief that small countries, which endure economic hardship, or which are recovering from war, or which face environmental challenges can best prosper if the officials responsible for economic development and fiscal wellbeing are given access to the highest possible level of training and development.

3. The annual programme consists of a blended executive-level package offering a mixture of technical training and leadership development. The programme is fully funded and participants are identified via an online application process.

4. There are three levels to criteria upon which participants for the annual programme are selected: country, organisation and individual. As far as possible participants will meet each of the criteria contained within all three levels.

5. Country: Each of the World Bank, the International Monetary Fund (IMF) and the Commonwealth Secretariat has its own definition of what constitutes a small state. Although the definitions are broadly similar, the IMF sets a population level of 2million people as defining a small state, whereas the other two bodies set a higher level of up to 3million people. All three definitions coincide in terms of other factors, such as geographical remoteness, poverty levels and vulnerability because of things such as war or environmental issues.

For the purposes of eligibility to participate in the annual programme, the following will apply:

Has a population of less than 1.5 million or has a larger population, butis, nevertheless, a member of the Small States Network for Economic development  or can demonstrate small country characteristics in the financial sector;

Is a member country of the World Bank or the Asian Development Bank or is a dependent territory of a member country of the World Bank or the Asian Development Bank; or

Is from a country eligible to borrow from the International Bank for Reconstruction and Redevelopment or the International Development Association (or has recently secured such funding as part of a regional program to facilitate global public goods). In the case of an Asian Development Bank member country, a country must be eligible to obtain Ordinary Capital Resources or Asian Development Fund loans. 

6. 6. Organisation: applicants will be employed within Finance Ministries (or equivalents), central banks (or equivalents), and financial services regulators (or equivalents).

    

7. Individuals: in order to be eligible, applicants will be employed at executive or director level within their organisation, or at deputy to such level, or at a level at which they may help form or influence policy-making. All applicants must have the written endorsement of the head of their organisation in order to be considered.  When considering applications, the selection panel will take account of the potential for further promotion of each applicant.
   8. Personal challenge: Each individual applicant will be required to submit for approval a work-based professional challenge, upon which they will work during and after the programme. The nature of each challenge must be such that its successful completion will make a tangible difference in the applicant’s workplace.
   9. Isle of Man applicants will not be required to meet the organisational test. The selection panel may set bespoke criteria for Isle of Man candidates after discussion with the Isle of Man Government.
   10. The selection panel: decisions on applications will be made by a panel composed of the executive director of the SCFMC, the programme director and the programme manager. The executive director may change the composition of the panel if circumstances require.
   11. The panel will consider all three eligibility tests, the fluency in written and spoken English of applicants and the quality and nature of individual challenges.
   12. Appeals against selection decisions will be considered by the chairman of the SCFMC.
   13. All applications will be treated fairly and equitably and in line with the laws of the Isle of Man relating to equality.
   14. Personal data will be handled in accordance with the laws of the Isle of Man.