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WICEF Aids Impoverished Children in Qinghai
The World Impoverished Children Education Foundation (WICEF) will donate 6 million yuan (722,891 US dollars) to help impoverished children in Qinghai Province, northwest China.
According to a bilateral agreement, the fund will be used to help needy children in the province to continue their studies, build school buildings, buy teaching equipment and conduct computer-related training in poor areas.
What is different from WICEF's previous donations is that the 6 million yuan will be used as a base fund for investment in the financial, tourism and other sectors in Qinghai. All the profits from the investment projects will be put into the impoverished children education fund of Qinghai Province.
The WICEF is a foundation funded by large financial groups and corporations in the world and is also aided by various social circles. The WICEF donated money to China's Guizhou and Shanxi provinces in 1997.
The foundation plans to offer 200 million yuan (24.09 million US dollars) in the coming 10 years to help develop basic education in the central and western parts of China.
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