AIT-TECRO Infrastructure Financing Framework Strengthens U.S. and Taiwan Cooperation
on Infrastructure Development in the Indo-Pacific
Arlington, VA. – On September 17, 2020, the American Institute in Taiwan (AIT) and the Taipei Economic and Cultural Representative Office in the United States (TECRO) signed a Framework to Strengthen Infrastructure Finance and Market Building Cooperation on behalf of the United States and Taiwan to facilitate technical exchanges and information sharing which will support and catalyze investments in infrastructure.
This Framework will support the development of quality infrastructure in emerging markets, particularly in the Indo-Pacific region and Latin America, by unlocking barriers to private sector investment in infrastructure projects. Areas of cooperation will include infrastructure finance and market building and joint collaboration to facilitate infrastructure investment in third countries, which will also help secure supply chains of the future.
The Framework establishes a Working Group, led by the U.S. Department of the Treasury and Taiwan’s Ministry of Finance, to identify and promote opportunities for public and private sector collaboration in the infrastructure sector through investment promotion. The first meeting of the Working Group is tentatively scheduled for Fall 2020.
Under the Framework, both sides intend to facilitate knowledge-sharing, training and capacity building through seminars, workshops, courses, and exchanges. They also intend to strengthen relationships between partner networks, such as private companies, investors, and financiers. They further intend to facilitate meetings of experts and exchanges in the technical areas related to the Framework.
This Framework builds on the strong people-to-people ties shared by the United States and Taiwan. The United States welcomes Taiwan’s important contributions to infrastructure development in the Indo-Pacific region and its broader promotion of a free and open Indo-Pacific. Since the signing of the Taiwan Relations Act 41 years ago, AIT and TECRO have worked to encourage deeper cooperation between our two societies, and today’s Framework is the latest reflection of these efforts.
For questions regarding this Framework, please contact Alexander Jeffers, Alexander.Jeffers@treasury.gov, Department of the Treasury.