Xi: China to allocate more resources for global development cooperation

Chinese President Xi Jinping on Friday said China will allocate more resources for global development cooperation.

China will upgrade the South-South Cooperation Assistance Fund to a Global Development and South-South Cooperation Fund, and add 1 billion U.S. dollars to the fund on top of the 3 billion U.S. dollars already committed, Xi said at the High-level Dialogue on Global Development, held in virtual format.

China will also increase input to the UN Peace and Development Trust Fund. Such efforts will further support cooperation under the Global Development Initiative, Xi added. 

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