Timing belt is the cam belt. It connects the crankshaft to the camshaft(s) and makes the valves open at the correct time.
Strictly speaking there is no such thing as a fan belt on a modern engine as the coolant fan is electric.
There is an auxiliary belt which drives things like the alternator, air conditioning compressor, power steering pump etc ( although they are sometimes electrically powered instead). This belt is often still refered to (wrongly) as the fan belt.
gibby, January 2011
