TAIPEI (Taiwan News) — Taiwan has pledged to donate US$1.5 million to the Asia-Pacific Economic Cooperation (APEC) for its economic and technical cooperation initiatives, an amount double the government's contribution last year.

Taiwan is committed to sharing responsibility for APEC’s collective response to the devastating COVID-19 pandemic, said Bob Chen (陳龍錦), a senior Taiwanese diplomat handling matters relating to international organizations.

“We wish to reaffirm our solidarity with all fellow economies as we continue to work closely and tirelessly together to find solutions to the current crisis, mitigating its impact, preventing its recurrence, and recovering better together.”

The donation was formalized with a memorandum of understanding (MOU) signed by Chen and Rebecca Sta Maria, executive director of the APEC Secretariat, a week before the 2020 APEC Economic Leaders’ Week kicks off.

Hosted by Malaysia this year, the APEC economic leaders’ meeting will take place virtually on Nov. 20 due to the pandemic. Taiwan, which participates in APEC as “Chinese Taipei,” has yet to name its envoy.

“We will recover better and thrive when we work and collaborate closer together, which is the strength of APEC as a forum,” said Sta Maria. She further stated that “Support for capacity building initiatives focused on emergency preparedness and health will help APEC build a much more resilient environment for our people in the region.“

Around US$1 million of the contribution will support APEC activities in the area of human security, which includes health security, emergency preparedness, and energy and trade security, according to the organization. The rest of the funding will be allocated to handling such issues as digital economy and marine debris while supporting an APEC organ dedicated to research.

Taiwan's contribution this year is reportedly its most ever, double the amount it provided in 2019.