In response to media queries, the MFA spokesman said that:
"The idea of a cohesion fund for ASEAN is a personal view which is new to us. The Foreign Ministers in Manila have already discussed and agreed that there is no need for a Special Fund. There are existing mechanisms within ASEAN to help bridge the development gap. Key initiatives include the Initiative for ASEAN Integration (IAI) and the ASEAN Development Fund. The IAI funds projects in the areas of technical capacity building, infrastructure development, and promotion of regional economic integration. We should continue to build upon these existing mechanisms."
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MINISTRY OF FOREIGN AFFAIRS
SINGAPORE
3 AUGUST 2007