China to launch $10bn fund for Global Development Initiative – Xi

China's financial institutions will soon launch a special fund of $10bn (R186bn) to implement the Global Development Initiative, President Xi Jinping said on Thursday.

Chinese President Xi Jinping at the Brics media briefing in Sandton, Johannesburg.
Chinese President Xi Jinping at the Brics media briefing in Sandton, Johannesburg. (Thapelo Morebudi)

China's financial institutions will soon launch a special fund of $10bn (R186bn) to implement the Global Development Initiative, President Xi Jinping said on Thursday.

China will also increase cooperation with African countries, including providing a complete set of data products for satellite mapping, Xi said at a Brics leaders summit in Johannesburg.

Reuters


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