The establishment of the fund has been proposed by the Community of Democracies, a body established in line with the Warsaw Declaration which is aimed at promoting democracy in the world.
Croatia is a member of the Community of Democracies.
US President George Bush, whose country plays a crucial role in the Community of Democracies, proposed the establishment of the Fund in his speech before the UN General Assembly last September, promising financial contributions and calling on other countries to do the same.
The fund could be established until September this year.
The proposal to establish the fund was made in a letter to UN Secretary-General Kofi Annan. Apart from Croatia, the letter was signed by the United States, Argentina, Australia, Bangladesh, Brazil, Bulgaria, Chile, the Czech Republic, El Salvador, Estonia, Guatemala, India, Israel, Italy, Japan, South Korea, Hungary, Mongolia, Germany, Peru, Poland, Sri Lanka, Thailand, Great Britain and the Cape Verde Islands.