China will give half a million US dollars to Central Asian countries to support their human resources development, said China's Vice Finance Minister Li Yong.

 

The money will come from the Regional Cooperation and Poverty Reduction Fund (RC Fund) set up by China at the Asian Development Bank (ADB), said Li at the Ministerial Conference on Central Asia Regional Economic Cooperation (CAREC) in Urumqi.

 

"China actively supports regional economic cooperation in Central Asia," said Li.

 

China provides technological aid for the area's agricultural development, environmental protection and capacity building through the RC Fund, and supports cooperation in prevention and control of AIDS and bird flu, said Li.

 

China is committed to providing US$20 million to Central Asian countries between 2005 and 2009. It established the RC Fund last March to promote regional cooperation in reducing poverty among the developing member countries of the ADB.

 

In June 2004, China gave Kyrgyzstan 60 million yuan (US$7.5 billion) in aid to build a 937-kilometer highway linking the country with China and Uzbekistan.

 

From 2006 to 2008, the ADB, together with the European Bank for Reconstruction and Development, the International Monetary Fund, the Islamic Development Bank, the United Nations Development Program and the World Bank, will invest US$2.3 billion in regional transport, energy and trade infrastructure in Central Asia, with US$1.4 billion coming from the ADB.

 

Created by the ADB in 1997, CAREC is a regional cooperation mechanism focusing on transport, trade and energy initiatives that are critical to the economic performance of the region.

 

It is also financing infrastructure projects in order to improve living standards and reduce poverty in CAREC countries.

 

(Xinhua News Agency October 22, 2006)