Today: Tuesday, 5 March 2024 year

China will allocate ten billion dollars for global development initiatives.

China will allocate ten billion dollars for global development initiatives.

China will set up $10 billion in funds for global development initiatives, Chinese President Xi Jinping said at the BRICS summit.

“China has set up a $4 billion South-South Cooperation Global Development Fund, and Chinese financial institutions will soon set up $10 billion in special funds for global development initiatives,” Xi said.


The BRICS summit is being held in Johannesburg on August 22-24, it is attended by the leaders of China, India, Brazil and South Africa, Russia is represented by Foreign Minister Sergey Lavrov. Russian President Vladimir Putin takes part in the summit via videoconference.