EBRD President Suma Chakrabarti will visit Taipei on 1 March where he will meet with the Taiwanese President Ma Ying-jeou, Minister of Foreign Affairs David L. Y. Lin, Deputy Governor of Central Bank Chin-long Yang and Secretary General of the International Cooperation Development Fund (TaiwanICDF) Wen-lung Tao.
Further strengthening the growing EBRD – Taiwanese cooperation, President Chakrabarti, Secretary General Tao and Minister Lin will sign a memorandum of understanding to explore opportunities for parallel financing of projects with a focus on the Bank’s Sustainable Energy and Sustainable Resource Initiatives, especially in Central Asia, the Caucasus and the Southern and Eastern Mediterranean. This will build on the existing co-operation under the Green Energy Special Fund, where both sides co-finance innovative energy efficiency investments.
President Chakrabarti will also visit the control system of Taipei’s metro, which is computerised and fully automated and controls the entire more than 100 km long, line. The EBRD delegation will also visit the Institute for Information Industries, a public-private partnership established in 1979 that has been instrumental in the development of the country’s world-renowned information and communication technologies industries and knowledge-based economy.
Finally, President Chakrabarti will also attend a conference on “Building Central Asia with EBRD” which will discuss joint investment opportunities in a region with huge potential for Taiwanese investors. The EBRD is pleased about the Taiwanese interest in working together with the Bank to help develop knowledge economy throughout the Bank’s countries of operation.
“We are grateful for the Taiwanese support to the EBRD”, said President Chakrabarti, “and in my meetings with government and business representatives I will take the opportunity to deepen and strengthen this very important cooperation.” The last visit by an EBRD head to Taipei was paid by former president Thomas Mirow in 2011.
Taiwanese funding has provided vital support to the EBRD since the Bank’s establishment in 1991. Funding for technical assistance through the TaiwanBusiness - EBRD Cooperation Fund has benefited all countries of operations and stands at some US$34 million for more than 230 projects to-date.
Over the years, Taiwanese funding has contributed to the EBRD Balkan Region Special Fund, the Mongolia Cooperation Fund, the Early Transition Countries Fund and the Sustainable Energy Initiative. TaiwanICDF became a co-financier in EBRD projects in 1994 and to-date has provided some US$145 million of loan co-financing resources to support the Bank’s investments with a focus on the development of small and medium-sized enterprises and the use of green technology in the infrastructure sector.
In recent years Taiwanese companies have significantly increased their activities in the EBRD region. President Chakrabarti will use his visit to intensify this successful relationship and reaffirm the Bank’s commitment to working with Taiwanese businesses in its countries of operations where their expertise and know-how remain highly welcome. After his visit to Taipei President Chakrabarti will travel to India.