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Global Opportunities Fund

Lord Triesman: My right honourable friend the Secretary of State for Foreign and Commonwealth Affairs (Jack Straw) will today lay before the other place the Foreign and Commonwealth Office annual report on the Global Opportunities Fund 2004–05. This is the second such report, which covers the financial year 2004–05.

Copies will be placed in the Library of the House. Additional copies can also be obtained from the Vote Office and the Printed Paper Office. A copy will also be available on the Foreign and Commonwealth Office website at www.fco.gov.uk/gof.

The Foreign Secretary launched the GOF to focus the FCO's programme spending more closely on our priorities; and to bring greater professionalism to our programme and project management work. It has made an impressive start.

The GOF's second year has built upon the foundations laid in 2003–04. Its programmes are now directly aligned to the strategic priorities which continue to support an impressive portfolio of projects, many of which are beginning to bear fruit. The fund has also played a key role in the evolution of the wider FCO programme budget. From 2006–07, it will expand to include all strategic programmes
 
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(Drugs and Crime Fund, migration and overseas territories programme) so that the FCO can provide well-structured and coherent support to its overarching strategy.
 
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The report provides an overview of the six GOF programmes and describes project activity. It also contains a section on lessons learned/forward look to the current financial year.


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