CHAPTER I. GENERAL PROVISIONS

There shall be established an International Cooperation and Development Fund (hereinafter called the Fund), with the aim of strengthening international cooperation and enhancing foreign relations by promoting economic development, social progress and the welfare of the people in partner nations around the world. This Statute is enacted for these purposes.

The Fund shall be a corporate foundation organized in accordance with the provisions of this Statute. Matters not otherwise provided for in this Statute shall be governed by the provisions of other applicable laws.

The Ministry of Foreign Affairs is the competent authority having jurisdiction over the Fund, provided that if, in relation to any matter, its jurisdiction overlaps with that of other ministries or commissions, the Ministry of Foreign Affairs shall consult with the ministries or commissions concerned before taking any action in relation to such matter.

The audited net assets value of the International Economic Cooperation Development Fund of the Ministry of Economic Affairs (IECDF) shall be deemed to be donated, and shall form the initial capital of the Fund after the dissolution of IECDF whereby the total assets, liabilities and related rights and obligations of IECDF shall be assumed by the Fund without being restricted by the provision of Article 23 of the Budget Law.

The source of funds of the Fund consists of the following:

Budget appropriations from the government

Interest from the Fund

Borrowings

Donations

Other income

The counterparts with which the Fund shall deal shall be foreign governments, international organizations, international agencies or their designated agencies or corporate bodies.

The business scope of the Fund shall be as follows:

To assist in the economic and social development of friendly or developing countries.

To enhance economic relations with friendly or developing countries.

To cooperate with international organizations, international agencies or third countries in order to assist friendly or developing countries in their social and economic development.

To provide humanitarian aid to international refugees or countries suffering from natural disasters.

To provide technical assistance or service to friendly or developing countries in training and cultivating their human resources and technology and in upgrading their industrial standards.

To set up overseas service missions to assist friendly countries in the improvement and development of their agriculture, industry, physical infrastructure, medical service and education.

Other matters with are conducive to enhancing the development of international cooperation or friendly relations.

The Fund may, as it deems necessary, entrust the conduct of the aforementioned businesses to financial institutions, corporate foundations or other specialized organizations, whether they be domestic or foreign.

CHAPTER II. DIRECTORS AND SUPERVISORS

The Fund shall have a Board of Directors consisting of eleven to fifteen directors, of whom one shall be the Chairman, all selected and appointed by the Premier of the Executive Yuan from among the following list of candidates:

Minister of Foreign Affairs

Minister of Economic Affairs

One Minister without portfolio from the Executive Yuan

Governor of the Central Bank of China

Chairman of the Agriculture Council of the Executive Yuan

Heads of other concerned ministries or agencies

Specialists, scholars, and representatives from the national
industrial and commercial groups, who will constitute no less
than one third of the Board

A director appointed pursuant to items 1 through 6 in the aforementioned paragraph shall hold his directorship as long as he is in the office from which he was appointed. A director appointed pursuant to item 7 in the aforementioned paragraph shall have a three-year term and may be reappointed for one further term. A director shall be removed before the expiration of his term on the ground of resignation, death, or failure to perform one's duties with cause and a successor may be appointed in his stead for the remaining duration of the term.

The Board of Directors shall have power and be responsible for the following matters:

Approval of business plans;

Examination and approval of all major projects;

Management and use of funds;

Examination and approval of budget and audit;

Appointment and removal of key personnel;

Examination or approval of other important matters.

The Fund shall have three to five supervisors, one of whom will be the executive supervisor, to be elected and appointed by the Premier of the Executive Yuan, each for a three-year term. A supervisor may be eligible for reappointment on the expiration of his term of appointment. The supervisors shall take charge of the examination and auditing of the funds and deposits, the monitoring of the financial conditions, and inspection and examination of the audited statements and accounts.

The executive supervisor shall be present at all Board of Directors' meetings.

The Fund shall have one secretary-general and two to three deputy secretaries-general, to be nominated by the Chairman of the Board of Directors and to be appointed after approval of the Board of Directors. The secretary-general, to be assisted by the deputy secretaries-general, shall be in charge of the overall business activities in accordance with the directives and under the supervision of the Board of Directors;

There may be established, for the purpose of obtaining advice on important matters to the Fund, a consultative committee consisting of seven to eleven members who shall be nominated by the Chairman of the board from among the staff of concerned government agencies, specialists, and scholars and be approved by the Board of Directors.

CHAPTER III. BUSINESS SCOPE AND FINANCE

The Fund shall conduct its business in the following forms:

Bilateral or multilateral technical cooperation;

Direct or indirect loans;

Direct or indirect investments;

Guarantees for investments or loans;

Grants in money or in kind;

Other forms.

The fiscal year of the Fund shall coincide with the fiscal year of the government

The budget and audit of the Fund shall conform with the following procedures:

Before the beginning of a fiscal year, business plans and the draft budget shall be ready for the approval of the Board of Directors to be submitted to the authority-in-charge for processing in accordance with budget procedures.

At the end of a fiscal year, the work report and audited income and expenditure statements shall be reviewed and approved by the super-visors and be submitted to the authority-in-charge for processing in accordance with auditing procedures.

The Fund shall present its work reports to the Legislative Yuan on a periodic basis.

The authority-in-charge shall make regulations related to technical cooperation, loans, investments, guarantees, and donations and grants and submit the same to the Executive Yuan for approval.

CHAPTER IV. SUPPLEMENTARY PROVISIONS

The authority-in-charge shall prepare the charter of incorporation in accordance with this Statute and other relevant laws and regulations and shall submit the same to the Executive Yuan for approval.

The Fund may be dissolved in the event that, owing to a change of circumstances, it cannot achieve the purposes for which it was established in accordance with this Statute. After its dissolution, it shall undertake liquidation procedures according to the law, and any remaining property whatsoever shall belong to the National Treasury.

This Statute shall come into force on the date on which it is promulgated