The fund was established in June 2006 by the Republic of Korea. It aims to to bridge the digital divide and promote improved access to information and creating and sharing of knowledge through information and communications technology (ICT) in the Asia and Pacific region.
The fund aims to contribute to poverty reduction and the economic and social development in ADB's developing member countries (DMCs) through its two windows: the e-Asia program and the knowledge partnership program.
The e-Asia program aims to achieve the objectives by:
The knowledge partnership program aims to achieve the objectives by:
Projects from all ADB DMCs will be eligible for funding.
The Republic of Korea has set up US$20 million in support of this fund. On 1 December 2010, the Government of Korea provided additional contribution to the Fund, amounting to US$6.37 million (KRW 7.38 billion), plus another US$ 6 million in October 2011.