Spain Increases Contribution to Cooperation Fund | Asian Development Bank

Spain Increases Contribution to Cooperation Fund

News Release | 24 November 2010

MANILA, PHILIPPINES - The Government of Spain has provided an additional $701,550 to the Spanish Cooperation Fund for Technical Assistance, the Asian Development Bank (ADB) said.

The latest contribution - its fourth - brings the total assistance of Spain to the ADB-administered fund to $8.3 million. The facility supports technical assistance operations including project preparation, advisory services, and project implementation.

"We appreciate Spain's continued support which helps ADB's member countries reduce poverty and promote our development goals," said Tadashi Kondo, Head of ADB's Office of Cofinancing Operations.

Sectors supported by the fund are energy (in particular renewable energy), urban development, water and sanitation, flood management, and transport, in particular railways, most of which are included in the core areas of operations under Strategy 2020, ADB's long-term development blueprint.

The fund was established in 2000 with an initial contribution of about $2 million from Spain, and replenishments in 2003 of about $3 million and $2.6 million in 2007.