The Asia Pacific Exchange and Co-operation Foundation (APECF) is a None government organisation, based in Hong Kong. It is planning to invest US$3 billion in the small Nepalese town of Lumbini, birthplace of the Buddha, to create a 'Mecca' for Buddhists of all strands. [1]
In June 2011, it was reported in the Chinese media to have signed an agreement with the United Nations Industrial Development Organization for the project, which will help Lumbini "transcend religion, ideology and race" in its work to rejuvenate the culture and spirit of Buddhism, according to executive vice chairman Xiao Wunan.[2][1]
The joint chairmen of APECF have varied backgrouds. They include Steven Clark Rockefeller Jr, a fifth-generation member of the Rockefeller family; Jack Rosen, chairman of the American Jewish Congress; Leon Charney, a real estate tycoon and former US presidential adviser; Prachanda, leader of the Unified Communist Party of Nepal (Maoist) and former Prime Minister of Nepal; and Paras, the former Nepali crown prince whose father's monarchy was overthrown by Prachanda's forces. The executive vice-chairman of the foundation is Xiao Wunan.