The latest donation of US$1.5 million by Taiwan to the Asia-Pacific Economic Cooperation forum to deepen economic and technical cooperation among members is appreciated by the APEC Secretariat, the Ministry of Foreign Affairs said Oct. 13.

According to the MOFA, the funding is being arranged through a memorandum of understanding recently signed by Jonathan Chien-yuan Sun, director-general of the ministry’s Department of International Organizations, and Rebecca Sta Maria, executive director of the APEC Secretariat, from their respective locations in Taipei City and Singapore.

The MOFA said the donation reaffirms Taiwan’s active APEC engagement and will go toward the organization’s Digital Innovation Sub-Fund, Women and the Economy Sub-Fund and Structural Reform for Sustainable Green Growth Sub-Fund, as well as the Policy Support Unit, which is the research and analysis arm for member economies.

In a press release issued Oct. 10 by the APEC Secretariat, the organization said the influx will fund the projects through the end of 2024. The organization appreciates Taiwan’s support in boosting capacity building, addressing pressing regional issues, advancing sustainable development and fostering economic growth, it added.

A total of 46 government agencies and their subordinate units take part in the regional organization’s meetings and activities, proposing 14 initiatives that have been greenlit for a cumulative US$1.15 million in APEC funding so far this year, the ministry said.

Since joining the organization in 1991, Taiwan has made substantial contributions to APEC in areas such as disaster prevention, food security, information and communications technology, small and medium enterprise development, and women’s economic empowerment. (SFC-E)