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China to expand South—South Cooperation Assistance Fund

26.06.2022 ТАСС 185 просмотров

China will allocate $1 billion to the Fund for Global Development and South—South Cooperation.


China to expand South — South Cooperation Assistance Fund to The Fund for Global Development and South—South Cooperation and will allocate an additional $1 billion to it. This was announced on Friday by the President of the People's Republic of China Xi Jinping at a meeting of the BRICS Plus format, which takes place via videoconference.


"China will increase its investments in global development cooperation, expand the South—South Cooperation Assistance Fund to The Fund for Global Development and South—South Cooperation, and will also increase its base capital of $ 3 billion by another $ 1 billion," he said.


The South—South Cooperation Assistance Fund was established by China in 2015 to assist developing countries in achieving the UN Sustainable Development Goals. Its initial capital was $2 billion. In 2017, China increased it to $3 billion.

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