NT$3 billion for 'co-prosperity' scheme whilst NT$6 for Executive Yuan
17 May '06
2 min read
Taiwan's fund will channel around NT$3 billion (US $95.23 million) this year in an investment venture for co-prosperity with Taiwan's political associates in Latin America.
Meanwhile, President Chen Shui-bian came back from Paraguay and Costa after a successful tour.
RicaHu Sheng-cheng, chairman of the Council for Economic Planning and Development (CEPD), said the Development Fund under the Executive Yuan has allocated a budget of NT$6 billion for this year.
It will be used in the co-prosperity scheme, as well as in other international investment cooperation mission.
He asserted that local businesses could apply for support under the co-prosperity scheme divided into two categories, namely, loans and joint ventures.
He added that a screening panel under the Development Fund has acknowledged a number of applications; generally from textile, optical disc and agriculture produce manufacturers, most of who have applied for support in joint ventures.
Hu said the screening procedure would have its outcome in two weeks time.
President Chen had made public the co-prosperity scheme during his visit to the nation's associates in Latin America earlier.
This project is aimed at helping local businesses investing in ROC allies in Central and South America and the Caribbean, cutting their investment risks by diversification.
Executive Yuan also created a task force to endorse the scheme, with Hu helping as its Executive Director.
The financial plan comes from the Ministry of Foreign Affairs' International Cooperation and Development Fund and the Executive Yuan's Development Fund, which made a payment NT$5 billion and NT$2.5 billion, correspondingly.
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