World

China pledges $2B to help developing countries

Chinese President Xi Jinping has announced that Beijing will establish an assistance fund with an initial pledge of $2 billion to help developing countries implement a global sustainable development agenda over the next 15 years.

Also promises to forgive debt owed by countries in greatest need

Chinese President Xi Jinping announced the fund for developing countries at the 2015 Sustainable Development Summit at UN headquarters in New York. (Seth Wenig/Associated Press)

Chinese President Xi Jinping announced on Saturday that Beijing will establish an assistance fund with an initial pledge of $2 billion to help developing countries implement a global sustainable development agenda 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 told a sustainable development summit of world leaders at the United Nations.

"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.

The fund would help pay for such things as health care, education and economic development.

 

Comments

To encourage thoughtful and respectful conversations, first and last names will appear with each submission to CBC/Radio-Canada's online communities (except in children and youth-oriented communities). Pseudonyms will no longer be permitted.

By submitting a comment, you accept that CBC has the right to reproduce and publish that comment in whole or in part, in any manner CBC chooses. Please note that CBC does not endorse the opinions expressed in comments. Comments on this story are moderated according to our Submission Guidelines. Comments are welcome while open. We reserve the right to close comments at any time.