Xi Jinping 'China pledges $2 billion to aid development of poor countries' - Chinese president

Beijing will establish an assistance fund with an initial pledge of $2 billion to help developing countries

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Chinese President Xi addresses joint news conference in the Rose Garden of the White House in Washington play

Chinese President Xi addresses joint news conference in the Rose Garden of the White House in Washington

(businessinsider)
An investor sits in front of an electronic board showing stock information at a brokerage house in Beijing, China, September 25, 2015. REUTERS/China Daily play An investor sits in front of an electronic board showing stock information at a brokerage house in Beijing, China, September 25, 2015. REUTERS/China Daily
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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.

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"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.

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