Chinese Government pledges RMB 1 billion for maritime cooperation activities (Linked to Record ID#38539, #37868)

Chinese Government pledges RMB 1 billion for maritime cooperation activities In 2011 China and Indonesia signed a new Memorandum of Understanding on Marine Cooperation in the South China Sea and established a committee for Sino-Indonesian maritime cooperation.

In 2012 China provided a 1 billion Yuan fund to start the China-Indonesia maritime cooperation fund for the program for tangible cooperation and lay the foundation for further maritime cooperation between the two countries.

The program seeks to increase maritime cooperation in areas ranging from maritime security and research, to resources exploitation and disaster prevention. Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.