XIAMEN (China) (Sputnik) — China will make a new contribution of $500 million to the special fund aimed at supporting the so-called South-South cooperation (SSC), Chinese President Xi Jinping said Tuesday.
"Internationally, China will work through such mechanisms as the Assistance Fund for South-South Cooperation, China-UN Peace and Development Fund and South-South Climate Cooperation fund, to boost cooperation on development and help fellow developing countries in implementing sustainable development agenda… Here I wish to announce that China will provide $500 million to the Assistance Fund for South-South Cooperation," Xi said at the Dialogue of Emerging Market and Developing Countries on the sidelines of the BRICS Summit in Xiamen.
In 2010, China signed an agreement with the United Nations Development Programme (UNDP) on strengthening the SSC, which aims to match solutions to developing countries' needs and promotes the practice of sharing of experience and policy solutions.
The Dialogue of Emerging Market and Developing Countries is the meeting of the BRICS leaders with other invited nations. This year, leaders of Egypt, Guinea, Mexico, Tajikistan and Thailand are taking part in the Xiamen summit in the so-called BRICS Plus format.
