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The fund was proposed by the United States late last year to help assure sustainable economic growth in the Region by enhancing and strengthening trade and financial security. At the last APEC meeting, held in Bangkok, APEC leaders supported this proposal.
The initiative will be supported by targeted cash and in-kind contributions. These include the new ADB-administered fund, the provision of technical advisers to ADB and selected APEC countries, and a TA facility to support the identification and preparation of ADB investment projects in the areas of trade security.
This program is also a logical follow on to the expanded policy that ADB adopted in April 2003 on "Enhancing the Asian Development Bank's Role in Combating Money Laundering and the Financing of Terrorism".
That initial policy covers the establishment of effective legal and institutional systems in developing countries, increasing their collaboration with international organizations, strengthening internal controls to safeguard ADB funds, and upgrading ADB staff skills.
Since December 2000, ADB has provided direct assistance through regional and country-specific TAs, to fund research on anti-money laundering regimes, training for officials, assistance in drafting laws, and technical advice to financial intelligence units.
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.... South and Southeast Asian Corporate Report Card
.... Asian Development Outlook 2004
.... Banking Sector Reforms in Asia
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