UN General Assembly
2005

than 100 per cent of the gross domestic product of the Solomon Islands. Talks with creditors have begun to establish a workable debt strategy. The innovative approach advocated by the Philippines of a debt-for- equity swap to finance MDG projects is worth looking into. Capacity-building in governance that is free from corruption is vital for rural development, health and education. Leadership and governance, which are critical for stability and economic development, are being improved by clarifying rules and expectations and by adopting an outcome-oriented approach. That will improve the transparency of public processes and the effectiveness of institutions. Solomon Islands acknowledges the contributions of Australia, New Zealand, Papua New Guinea, Japan, the European Union, Taiwan, the Asian Development Bank and the World Bank, among other donor partners, in support of Government initiatives to rebuild our fragile and shattered State. Solomon Islands must consolidate the gains achieved in the past two years on the security and economic fronts and move forward constructively. Much is yet to be done. On climate change, the world continues to