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Hu: China to provide US$10b for poor countries
(Xinhua)
Updated: 2005-09-15 07:13
UNITED NATIONS -- Chinese President Hu Jintao announced at the United Nations
in New York Wednesday new measures to help other developing countries including
providing more aid for such countries.
French Prime
Minister Dominique de Villepin (L) chats with China's President Hu Jintao
(R) at the 2005 World Summit and 60th General Assembly of the United
Nations in New York, September 14, 2005.
[Reuters] | Hu, who arrived in New York
Tuesday to attend the summit on the 60th anniversary of the United Nations, made
the announcement in his statement titled "Promote Universal Development to
Achieve Common Prosperity" that was delivered at the High-Level Meeting on
Financing for Development at the United Nations Summit.
Hu said in order to increase assistance to other developing countries, China
has decided to accord zero tariff treatment to certain products from all the 39
Least Developed Countries (LDCs) having diplomatic relations with China,
covering most of the China-bound exports from these countries.
China will further expand its aid programs to the Heavily Indebted Poor
Countries (HIPCs) and LDCs and, working through bilateral channels, write off or
forgive in other ways, within the next two years, all the overdue parts as of
the end of 2004 of the interest-free and low-interest governmental loans owed by
HIPCs having diplomatic relations with China, according to Hu.
He said within the next three years, China will provide 10 billion US dollars
in concessional loans and preferential export buyer's credit to developing
countries to improve their infrastructure and promote cooperation between
enterprises on both sides.
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