The Budget and Management Committee (BMC) advises the Senior Officials' Meeting (SOM) on budgetary, administrative and managerial issues. Its key responsibility is to prepare the budget for APEC and recommend the approval of projects. The BMC also monitors and evaluates project management aspects of the operations of Committees and Working Groups and makes recommendations to Senior Official Meetings (SOM) for improved efficiency and effectiveness.
In 1995 at the APEC Economic Leaders' Meeting, Japan expressed its intent to contribute up to 10 billion yen over several years to the APEC Central Fund to fund projects which expand cooperative programs, encouraging trade and investment liberalisation and facilitation. Japan also expressed its view that other APEC Member Economies should actively engage in cooperation in the future. The TILF Special Account has been established to accommodate such contributions. In recent years, the Account has funded projects with an annual commitment of around US$2 million.
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