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MEMORANDUM OF UNDERSTANDING ASIA-PACIFIC ECONOMIC COOPERATION SUPPORT FUND DIGITAL INNOVATION SUB-FUND
ANNEX 1 APEC Support Fund Governance Arrangements.PDF
1.Signed on March 07, 2019 Entered into force on March 07, 2019
Parties to the MOU
Contributor: Chinese Taipei
Recipient: Asia-Pacific Economic
Cooperation (APEC) Secretariat
Purpose of the MOU
The Contributor will provide a financial contribution to support
the projects and activities carried out to meet the capacity
building needs of APEC ’ s developing economies. Details on the
establishment and operation of the APEC Support Fund are in
Annex 1. The contribution will be used solely for this purpose.
The Contributor will contribute a total of 200,000 US dollars to
the Recipient for projects under this MOU. The contribution will
be allocated to the APEC Digital Innovation Sub-Fund.
Management of Contribution
The Recipient will manage the contribution and will charge a
management fee of 2% of the contribution, which should be
transferred to the Secretariat Account.
The Recipient will keep a financial record of the APEC Support
Fund, including all the income and expenditure accounts, and
will make the record available to the Contributor for audit and
inspection if requested by the Contributor.
Approval of Projects
The Recipient may call for and receive project proposals from
interested economies or fora through the APEC Support Fund
process or may commission projects. The Recipient will assess
the proposals based on mutually agreed criteria and make
recommendations to the Budget and Management Committee (BMC) for
the approval of projects.
Recognition of the Contribution
APEC will specify the contribution of the Chinese Taipei in
relevant meetings, reports and press releases.
Auditing of the APEC Support Fund
The accounts of the APEC Support Fund will be audited by the
auditors of the Recipient. The auditor ’ s report will be
presented to the BMC, with a copy provided to the Contributor.
The Recipient will prepare an Annual Report on the activities of
the APEC Support Fund, including acquittals. The report will be
reviewed by the BMC and the Contributor. The Recipient will
reflect the comments made by the BMC and the Contributor on the
Entering into Force
This MOU will enter into force upon signature.
Withdrawal by the Contributor
The Contributor may withdraw from the MOU with a one month ’ s
notice to the Recipient. The Contributor will notify the
Recipient if the Contributor requires the return of contribution
in excess of committed payments or if the balance needs to be
transferred to the General Fund of the APEC Support Fund. If the
Contributor requires the return of the uncommitted amount, the
Recipient will return that amount to the Contributor within 60
days after receipt of notification.
Signed in duplicate at Santiago, Chile on the 7 day, March,
2019, in the English language.
SIGNED for and on behalf of the Chinese Taipei by
Mr. Bob Loong-Jin Chen
APEC Senior Official
Department of International Organizations
Ministry of Foreign Affairs
SIGNED for and on behalf of the Asia-Pacific
Economic Cooperation Secretariat by
Tan Sri Dr. Rebecca Fatima Sta Maria
Asia Pacific Economic Cooperation (APEC)