At the UN General Assembly on Saturday, Chinese President Xi Jinping announced a $2 billion South-South Cooperation aid fund to help developing countries in their efforts towards sustainable development over the next 15 years.
“China will continue to increase investment in the least developed countries, aiming to increase its total to $12 billion by 2030,” Xi said the UN sustainable development summit in New York.
China will exempt the debt of the outstanding intergovernmental interest-free loans due by the end of 2015 owed by the relevant least developed countries, landlocked developing countries and small island developing countries,” he added.
China will also push for immediacy in operations of the newly launched BRICS Bank and the Asian Infrastructure Investment Bank, Xi said.…The BRICS Post
Xi announces $2bn South-South Fund to aid poor nations
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“It is not just about fulfilling the needs of the poor and upholding their dignity, nor about assuming moral responsibility for this, but realising that the very goal of a sustainable future cannot be accomplished without addressing the problem of poverty,” he said.
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