APEC administers two project approval sessions per year. APEC member economies can apply for project funding during these two project approval sessions. Funding is approved by APEC’s Budget and Management Committee (BMC).
Project sessions are very competitive – there are typically many more applications than there is funding available. Members are encouraged to think deeply about their project, and consult widely with their colleagues, to ensure that they have the best possible chance of receiving funding.
There are two stages to each project approval session. The process starts with the submission of a three page concept note outlining the intention of the project. If a concept note is approved for funding at this stage, members then develop a longer and more detailed project proposal that specifies precisely how the project will work.