Taiwan to provide $1b

Taiwan to provide $1b

TAIPEI (AFP): Taiwan is willing to provide US$1 billion to a
proposed fund under the Asian Development Bank (ADB) to help
countries hit by the regional financial crisis, a news report
said Saturday.

Taiwan's central bank deputy governor Liang Cheng-chin, who is
visiting Kuala Lumpur, told the United Daily News that Taipei has
proposed to set up a fund of $50 to $100 billion under the ADB
with Taiwan chipping in $1 billion.

But Taiwan would provide more to the fund if needed, the
report said.

Liang was accompanying the cabinet-level Council for Economic
Planning and Development Chairman P. K. Chiang in a 10-day tour
in Southeast Asia to seek investment opportunities and assess how
Taiwan could help alleviate the turmoil.

Authorities here have repeatedly encouraged the Taiwanese
business sector to take advantage of the region's currency
depreciation to look for investment opportunities and mergers.