Cooperation Fund for Regional Trade and Financial Security Initiative (FRTFSI) - Asian Development Bank

Donor: 
Any donor
International Finance Institutions
Geographical focus: 
Global
East Asia and the Pacific
South Asia
Thematic focus: 
Tourism in general
Infrastructure in Tourism
Policy and Governance in Tourism
Intro text: 
The Fund for Regional Trade and Financial Security Initiative (FRTFSI) is a multi-donor umbrella facility that will support ADB Technical Assistance to Developing Member Countries (DMCs) for enhancing port security (including airports, cargo ports, and containers) and combating money laundering and terrorist financing.

Official website

http://www.adb.org/site/funds/funds/cooperation-fund-regional-trade-financial-security-initiative-frtfsi

Geographic focus

Asia

Who can apply?

The FRTFSI will be open to all eligible DMCs. However, emphasis will be placed on assisting DMCs that are also APEC economies and are most at risk with regard to money laundering, terrorist financing, or port and airport security.

Objectives and activities

Objectives: The objective is to enhance port security (including airports, cargo ports, and containers) and combating money laundering and terrorist financing.

Activities: The activities to be financed by the FRTFSI may cover a range of interventions, including projects that:

  • strengthen DMCs’ capacity to address Anti Money Laundering-Combating Financing of Terrorism, in particular through assistance in the establishment of financial intelligence units and effective legal and supervisory regimes for AML
  • promote customs modernization measures facilitating:
    • the detection and monitoring of cross-border movements of cash and monetary instruments, as well as goods and conveyances that may pose a security risk
    • security- enhancing seaport and airport upgrades
    • supply chain security; and
    • adherence to International Civil Aviation Organization, International Maritime Organization, World Customs Organization, and other international safety and security transportation standards
  • complement the secure trade in the APEC region (STAR) initiative goals and help developing economies implement related action plans.

Type and level of funding

Financial assistance is provided in the form of grants. Donor clearance will be sought on a project-by-project basis.

Australia: A$1.5 million, Japan: US$1 million, and the United States: US$1, support the grant.