The Canadian government announced today that tit will provide more than $2 million over the next five years to enhance the anti-terrorist financing capacities of Caribbean and Asian countries.

“Canada plays a leadership role in the fight against terrorist financing,” said finance minister Jim Flaherty. “This government is committed to ensuring we remain at the forefront of this effort.”

Canada will work in close cooperation with the International Monetary Fund and the World Bank to deliver projects with a lasting impact in these regions. The Caribbean Financial Action Task Force and the Asia/Pacific Group on Money Laundering, two key regional bodies combatting terrorist financing, will play an essential role in identifying needs and priorities among their member countries.

“As a key part of our international terrorism prevention effort, Canada is committed to assisting developing countries in the fight against terrorism,” said foreign affairs minister Peter MacKay. “This funding will not only help these countries to effectively prevent and respond to terrorist activity, but will also contribute to Canada’s national security.”

The objective of the projects will be to reinforce anti-terrorist financing bodies, strengthen investigative and prosecutorial authorities, and further support the close partnership with the private sector on effective measures to counteract terrorist financing.

Funding will be provided for the first time through the Counter-Terrorism Capacity Building Program, created in 2005 to enable developing countries to prevent and respond to terrorist activity.