Asian Development Bank (ADB), a multilateral development finance institution dedicated to reducing poverty in Asia and the Pacific, will administer a new DKK20 million (US$3.2 million) cooperation fund financed by the government of Denmark.
The second Danish cooperation fund for technical assistance will provide grants for ADB activities such as project preparation, training and advisory services, and institutional support.
The fund will be used in accordance with the overall priorities of ADB, furthering the goals of national poverty reduction programs and the achievement of the millennium development goals. Special attention will be paid to activities that improve gender equality.
All ADB’s developing member countries with per capita gross national product of up to $2,500 equivalent will be eligible for funds, with emphasis given to Vietnam, Bangladesh, Bhutan, and Nepal.
The fund is a follow-up to the DKK15 million Danish cooperation fund for technical assistance that was approved in July 2000 and is now fully committed.
Besides these two cooperation funds, ADB administers a Danish fund to promote renewable energy and energy efficiency in small towns and rural areas in the Asian and Pacific region.