TAIPEI (Taiwan News) — A month before the Asia-Pacific Economic Cooperation (APEC) summit in Thailand, Taiwan donated US$2.2 million (NT$70.6 million) to the organization to promote regional development, reports said Saturday (Oct. 22).
The donation was the result of a memorandum of understanding signed Oct. 14 by Sharon Wu (吳尚年), the director general of the Department of International Organizations at the Ministry of Foreign Affairs (MOFA), and Rebecca Sta, Maria, the executive director of the APEC Secretariat in Singapore, CNA reported.
The funds will go to a variety of causes, including innovation, regional economic integration, sustainable growth, policy research and analysis capabilities. A digital innovation fund and a project to reduce marine debris will also count among the beneficiaries of Taiwan’s donation.
About US$1 million of the donation will go to digital economy projects and the reduction of poverty by small and medium enterprises, according to an APEC news release.