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France Sets Up $2 Million Cooperation Fund for Designing GMS Projects

MANILA, PHILIPPINES (18 January 2005) - France's national development agency is contributing €1.5 million (about US$2 million) to establish a cooperation fund at the Asian Development Bank (ADB) to prepare and design programs for the Greater Mekong subregion (GMS).

The Cooperation Fund for Project Preparation in the Greater Mekong Subregion [ PDF ] will be administered by ADB for project preparatory technical assistance operations with a regional cooperation focus in the GMS.

The initial contribution of €1.5 million will be committed by the Agence Francaise de Developpement upon signing of the Channel Financing Agreement. At its discretion, AFD may provide resources to the fund at a later date.

ADB is dedicated to reducing poverty in the Asia and Pacific region through pro-poor sustainable economic growth, social development, and good governance. Established in 1966, it is owned by 63 members - 45 from the region.

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