PRC Poverty Reduction and Regional Cooperation Fund grants $5.15 million USD for 2017 Projects

Project narrative

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. 35), on 8 December 2017, the Chinese Ministry of Finance approved $5.15 million USD from this special fund for nine different Batch 1 projects: 1) $550,000 USD for "Revitalizing the Ecosystem of Ravi River Basin." Expected to close on 30 September 2019. 2) $800,000 USD for "Water and Sanitation Strategy Development and Capacity Building." Expected to close on 28 February 2021. 3) $750,000 USD for "Enhancing Regional Knowledge Sharing Partnership." Expected to close on 31 July 2021. 4) $800,000 USD for "Modernizing Sanitary and Phytosanitary Measures to Facilitate Trade." Expected to close on 30 September 2020. 5) $600,000 USD for "Capacity Building Support for Asia-Pacific Economic Cooperation Financial Regulators Training." Expected to close on 31 December 2019. 6) $125,000 USD for "Strengthening Asia's Financial Safety Nets and Resolution Mechanisms." Expected to close on 31 December 2020. 7) $225,000 USD for "Strengthening Compliance Review and Accountability to Project Affected Persons of Financial Intermediaries." Closed on 4 February 2019. 8) $800,000 USD for "Water Supply Scheme for Tete Settlement." Expected to close on 30 June 2021. 9) $500,000 USD for "Strengthening Institutions for Localizing Agency 2030 for Sustainable Development (supplementary)." Expected to close 31 December 2020.