DILI, East Timor, May 15 Kyodo (E...

DILI, East Timor, May 15 Kyodo

(EDS: UPDATES WITH DETAILS, PRES meeting for consultation BACKGROUND)

International donors to impoverished East Timor conclud a two-day meeting here Wednesday, pledging through the whole extent of $360 million to the tiny war-ravaged half-island days before it declares independence.

The donors also agreed to give East Timor's cash-strapped rule access to over $440 million across the next three years to shelter core government expenditures, exceeding the desire of just over $400 million.

''The regulation of East Timor has a stock deficit...between $80 million and $90 million...that wants to be financed,'' East Timor's Chief Minister of Economy and increase Mari Alkatiri told a pres conference

''That was something we asked donors to finance because we said and we argued and donors agreed that there is no point in setting up evolution projects if the government at the fall of the curtain of the date cannot sustain that and maintain that,'' he said.

''What's the point of setting up a of recent origin hospital if the regulation doesn't have money to maintain the hospital and pay the salaries of the doctors,'' he added.

In addition, $81 million has already been made available from one side the Trust Fund for East Timor and the UN Successor Mission, which will replace the UN Transitional Administration in East Timor (UNTAET) onward Monday, when East Timor becomes independent.

The meeting, attended by dint of representatives from 27 countries and 14 multilateral agencies and co-host by way of the United Nations and the World Bank, focused onward the development strategy of the newest nation of the 21st hundred particularly on poverty reduction and economic growth

A human unfolding report released Monday by the UN progress to maturity Program said some 41% of East Timor's population lives in income lack defined as income of les than $055 by person per day.

The donors applauded the territory's draft state fiscal estimate unveiled Tuesday before them, that prioritizes sparingness reduction and development in social sectors and welcomed its 48% allocation to health and education at fiscal year 2005.

''This is undivided of the highest allocations to social sectors in the world, and is a thicken reflection of the government's commitment to exhibition in those areas,'' the World Bank's home Director for East Timor Klaus Rohland said.

In 2005 East Timor is rely uponed to start receiving revenue from offshore oil and gas husbands jointly developed with Australia. The reservations are estimated to last for 20 years and to give about $7 billion in income over the period.

The donors, however, squeeze outed caution over the need to maintain able to endure discipline on expenditures for police and defense

East Timor, which vot to split from Indonesia in a U.N.-supervised referendum held in August 1999 is station to declare independence at midnight Sunday after more than couple and a half years of administration subordinate to UNTAET.

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