PRC Poverty Reduction and Regional Cooperation Fund grants $3.8 million USD for 2014 Projects

On 24 March 2005, the Chinese Government and Asian Development Bank (ADB) jointly established the People's Republic of China (PRC) Poverty Reduction and Regional Cooperation Fund. The China Ministry of Finance provided financing and ADB implemented the projects. The purpose of this special fund is to support the process of poverty reduction, regional cooperation and knowledge sharing for ADB developing member countries (DMCs) in the Asia-Pacific as well as Greater Mekong Subregion (GMS) and Central Asia Regional Economic Cooperation (CAREC) countries. According to a 2019 Annual Report (p. 34), on 23 June 2014, the Chinese Ministry of Finance approved $1.5 million USD from this special fund for three different Batch 1 projects: 1) $500,000 USD for "Core Environment Program and Biodiversity Conservation Corridors Initiative in the GMS, Phase 2 (supplementary)." This project was originally expected to close on 30 June 2018 but has since elapsed. 2) $500,000 USD for "Study for a Power Sector Financing Road Map within CAREC." Closed on 29 March 2017. 3) $500,000 USD for "CAREC: Working with the Private Sector in Trade Facilitation (Phase 2)." Closed on 20 October 2019. According to a 2019 Annual Report (p. 34-25), on 10 December 2014, the Chinese Ministry of Finance approved $1.225 million USD from this special fund for five different Batch 2 projects: 1) $400,000 USD for "CAREC Knowledge Sharing and Services in Transport and Transport Facilitation." Closed on 31 July 2019. 2) $500,000 USD for "Harmonizing the GMS Power Systems to Facilitate Regional Power Trade." Expected to close on 31 December 2019. 3) $750,000 USD for "Infrastructure Public–Private Partnership Pipeline Development Support." Expected to close on 1 August 2019. 4) $250,000 USD for "Building Capacity for Enhanced Connectivity in Southeast Asia (supplementary)." Closed on 29 March 2019. 5) $400,000 USD for "Greater Mekong Subregion: Capacity Development for Economic Zones in Border Areas."

Additional details

Also called the PRC Fund or 中华人民共和国减贫与区域合作基金. Not marked as umbrella and did not separate batches 1 and 2 because the risk of duplication is very low.

Number of official sources

2

Number of total sources

2