To strengthen international cooperation and enhance foreign relations through the promotion of economic development, social progress, and the welfare of all mankind, the International Cooperation and Development Fund (hereinafter referred to as “the ICDF”) has been established and this Act has been created.

The ICDF shall take the form of a corporate foundation organized in accordance with the provisions of the Act. Matters not otherwise provided for in this Act shall be governed by the provisions of other applicable laws.

The Ministry of Foreign Affairs shall be the competent authority holding jurisdiction over the ICDF. In the event that its jurisdiction in a matter overlaps with that of another ministry or agency, the Ministry of Foreign Affairs shall consult with the former before taking any action.

The audited net value of the assets of the International Economic Cooperation Development Fund (IECDF) of the Ministry of Economic Affairs shall be transferred and constitute the initial capital of the ICDF. After the dissolution of the IECDF, the total assets, liabilities and related rights and obligations of the IECDF shall be assumed by the ICDF without being subject to the provisions of Article 23 of the Budget Act.

The source of financing for the ICDF shall consist of the following:
(1) Budget allocations from the government,
(2) Interest accrued from bank deposits,
(3) Loans,
(4) Donations, and
(5) Other types of income.

International cooperation and development projects shall pursue the following goals:
(1) Solidify relations with diplomatic allies;
(2) Promote cordial relations with non-diplomatic allies,
(3) Advance cooperation with inter-governmental organizations and international non-governmental organizations,
(4) Improve the welfare of the people of allied countries and friendly developing countries by assisting them in generating income, fighting poverty and raising local living standards,
(5) Ensure human security and protect universal values, such as peace, democracy, human rights, philanthropy and sustainable development, and
(6) Fulfill international obligations and responsibilities and contribute to the international community.

International cooperation and development projects shall abide by the following principles:
(1) Draw on the development experiences and comparative advantages of the Republic of China (Taiwan) so as to assist other countries in their overall development strategies and establish partnerships with them,
(2) Strengthen the economic framework and social development of partner countries in accordance with international development trends and important issues,
(3) Assist partner countries in increasing government efficiency, improving human resources, generating employment opportunities and enhancing the private sector’s competitiveness,
(4) Help partner countries formulate development plans, ensure the welfare of their people, and promote their sustainable development,
(5) Participate in the aid and development projects of inter-governmental organizations and international non-governmental organizations, and establish cooperative relationships with them, and
(6) Ensure that the international cooperation and development plans chosen are in the best interests of the Republic of China (Taiwan).

Cooperation partners under the ICDF shall include foreign governments, inter-governmental organizations, international non-governmental organizations or other foreign institutions, organizations or professionals recognized by the government of the Republic of China (Taiwan).

The scope of international cooperation and development projects shall include the following:
(1) Aid categories under the Organization for Economic Cooperation and Development when participating in bilateral or multi-lateral cooperation and development plans aimed at advancing the infrastructure and sustainable development of the society, economy and production sector of allied or friendly countries,
(2) Humanitarian aid projects for countries and people suffering from natural disasters or wars, and
(3) Other projects related to international cooperation and development.