Chinese President Xi Jinping to Fund $2 Billion to South-South Cooperation

Published Date : Sep 28, 2015

Xi Jinping, the Chinese president recently announced that the country will fund $2 billion to support the South-South Cooperation to assist the developing countries to develop education sector. Along with the education sector, China will also support the developing countries develop trade, agriculture, health, environment, and reduce poverty. All this will be in addition to the plan of initiating the ‘Six 100s’, said Xi Jinping. Xi Jinping informed the UN Sustainable Development Summit that China is planning to fund an initial amount of $2 billion in order to support the South-South Cooperation. With this, China is planning to assist the development of the education sector. China will be assisting most of the developing nations to implement their development agenda for 2015. 

The South-South Cooperation is nothing but exchange of technology, knowledge, and resources between the developing nations, popularly known as the nations of global South. Xi Jinping lately announced to fund $3 billion to help the developing nations to battle climate change. China is also planning to raise their funds to US$12 billion by 2030 for the least developed nations. Sharing his opinion on post-2015 development plans, Xi called for an open, innovative, and equitable development strategy, by stressing on the point that not even a single country should be left behind. 

Every country should enhance their education development capacity by improving the development environment. There should be a partnership between the developed countries and the least developed ones so as to achieve much required balance. There is a need to strengthen the coordination mechanism between the developed and least developed countries. China is planning to introduce 100 poverty reduction events, 100 agriculture cooperation programs, 100 hospitals and medical centers, 100 environmental protection programs, 100 schools, and training centers, in the coming five years. During the same period, Beijing is planning to provide 120,000 opportunities, 150,000 scholarships, and 500,000 professionals for developing various public sectors.