ASEM fund is up and running<\/p>\n
BRUSSELS (DPA): The World Bank said Friday it had approved a
\nfirst batch of projects to be financed by the US$45 million Asia-
\nEurope Trust Fund set up by the two regions' leaders in April.<\/p>\n
Bank officials said money from the \"ASEM\" Trust Fund would be
\ninitially used to provide \"high-quality and urgent expertise\" to
\ngovernments in Indonesia, South Korea and Thailand.<\/p>\n
The focus will be both on financial sector reform and easing
\nthe social fall-out from the Asian financial crisis, they added.
\nAlthough the Fund is managed by the World Bank, its main source
\nof revenue is the European Union and many of its 15 member
\ngovernments. China has also promised to put in resources.<\/p>\n
Contributions have been made so far by the E.U. Commission and
\nseven countries including France, Italy and Britain.<\/p>\n
The projects just approved by the Bank include expert advice
\non designing an urgent scholarship program in Indonesia to
\nprotect children from stopping out of school following a drop in
\ntheir parents' income.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/asem-fund-is-up-and-running-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}