The White House said the US Overseas Private Investment Corporation(OPIC) had issued a call for proposals for the fund, which will provide financing of between 25 and 150 million dollars for selected projects and funds.

The Global Technology and Innovation Fund will "catalyze and facilitate private sector investments" throughout Asia, the Middle East and Africa,the White House said in a statement.

Eligible projects would advance economic opportunity and create jobs in areas like technology, education, telecoms, media, business services and clean technology, the White House said.

OPIC said sample projects could help foster the development of new computer technology or telecommunications businesses, or widen access to broadband Internet services.