CISNOC Accepts Loan Offer From Government
You may have heard about the government offering a loan to CISNOC to help them to pay for travel costs to the Pacific Games in Noumea. What you may not know is that CISNOC has decided to accept the offer. CISNOC accepts a loan offer by government to meet the costs of travel to the Pacific Games in Noumea
The Cook Islands Sports and National Olympic Committee (CISNOC) has accepted a loan offer from the government to help it to meet the costs of its trip to the Pacific Games in Noumea. It is expected that the loan will be paid back from CISNOC sponsorship contracts and revenue. In addition to this, a letter of guarantee will be issued to the airlines to secure the loan.
CISNOC's 2011 budget was severely underfunded, and the organization was left short on cash. However, the Cook Islands Sports and National Olympic Committee had expected money from the government in the appropriation bill for the 2011-2012 year.
Although the budget was seriously underfunded, the organization was left with a choice. The committee could either take out a loan from the government, or borrow from Pacific Mini Games 2009 Ltd. CISNOC executive board members agreed to the latter option.
While the government has offered the Cook Islands a loan, it must be approved by the cabinet. Conditions for the loan stipulate that the Cook Islands must pay back the money from CISNOC sponsorship contracts, Pacific Mini Games 2009 Ltd, and revenue. If the loan is not repaid, the Cook Islands Sports and National Olympic Committee is liable for legal action against the Cook Islands Government.
As part of the XIV Pacific Games, the Cook Islands is sending a team of athletes to compete in the Men's Rugby tournament. There are 16 men's teams competing in the tournament this year. Among them, the Teimurimotia Stallions, the Porirua Magic, the Tauae Bulls, and the Shuzi Flying Dragons will all be represented. They are joined by two overseas teams, the New Zealand-based Titikaveka Telecom Titans and the Samoan-based Avatiu Rugby.
This year's men's rugby tournament is a double-header, meaning that the two overseas teams will be facing off against the local team. In total, six local players will be bolstered by three imported players. Since last year, the Cook Islands has increased funding for its men's teams, but the women's teams have seen minimal funding.
On Friday, the CISNOC executive board will have to decide whether or not to approve 11 resolutions. These include the hiring of a new leader for the organization and the appointment of temporary appointments. Several other decisions are expected to be made as well.
The Ministry of Culture will allocate $250,000 in the 2014/15 budget. That budget is being funded by the NZ Aid Programme. During the conference, participants will be exposed to opportunities to broaden the current learning system, learn about numeracy and literacy, and gain access to future learning possibilities.
During the conference, the Education Conference will be held at the University of the South Pacific's Rarotonga Campus. Various sessions will be held, including sexual reproductive health, early childhood education, and literacy. Direct loans vs guaranteed loans
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