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APEC Receives Half Million US Dollars

APEC Receives Half Million US Dollars from the Russian Federation

Lima, Peru, 20 November 2008

The Russian Federation will contribute half a million US dollars to Asia-Pacific Economic Cooperation (APEC) activities in 2009-2010, in support of regional efforts in human security, as well as science and technology development.

Of the total amount, USD 340 thousand will be directed toward Human Security. Explains Russian Senior Official for APEC, Ambassador Vasily N Dobrovolskiy, "We have witnessed considerable progress in building the resilience of Asia Pacific economies to human security threats through APEC's cooperative programs. Numerous capacity building initiatives, of which the Russian Federation has been an active participant, were launched to disseminate best practices and expertise in managing evolving threats and emergencies. However, as we are repeatedly reminded of our region's vulnerability to natural disasters and risks of devastating human and economic costs, the need to further pursue a multifaceted human security agenda becomes essential to securing economic growth and prosperity."

The remainder will be used to support capacity building activities for APEC developing economies. This will include the facilitation of technology flows and the most effective use of technology for the future. Says Ambassador Dobrovolskiy, "It is our firm belief that science and technology are a vital source of sustainable and environment-friendly economic growth."

To APEC, the contribution represents commitment to economic growth and regional partnerships - but also to a broader social stratum. According to Secretariat Executive Director, Juan C. Capuñay:

"This contribution to the APEC Support Fund is specifically intended to strengthen the capacity of APEC's developing economies. This is always important - but it is particularly so this year. As Host Economy for 2008, Peru recognizes that a social perspective is fundamental to APEC's success and this initiative by Russia illustrates that other APEC economies are of the same mind."

APEC considers science and technology an entry point for small, medium and micro-enterprises to the global marketplace.

A memorandum of understanding was signed in Lima today in the presence of Minister of Foreign Affairs of the Russian Federation, Sergey Lavrov; and Peruvian Minister of Foreign Affairs, José Antonio García Belaúnde. In his remarks at the signing ceremony Minister Lavrov commended APEC efforts to mobilize finance for the most urgent activities and stressed the need to pursue APEC projects in spite of emerging economic difficulties.

ENDS

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