e-magazine
A Song of Snow and Ice
With winter sport popularity on the rise, China anticipates a Winter Olympics at home
Current Issue
· Table of Contents
· Editor's Desk
· Previous Issues
· Subscribe to Mag
Subscribe Now >>
Opinion
World
Nation
Business
Finance
Market Watch
Legal-Ease
North American Report
Forum
Government Documents
Expat's Eye
Health
Sci-Tech
Lifestyle
Books
Movies
Backgrounders
Special
Photo Gallery
Blogs
Reader's Service
Learning with
'Beijing Review'
E-mail us
RSS Feeds
PDF Edition
Web-magazine
Reader's Letters
Make Beijing Review your homepage
The Latest Headlines
The Latest Headlines
UPDATED: July 17, 2015
China, World Bank Pledge $50 million for Poor
Share

China and the World Bank signed an agreement on July 16 to set up a $50 million fund to help reduce poverty.

The initiative comes on top of their joint efforts to combat the downward pressure on the world economy and advance China's health reforms.

The trust fund, which is expected to start operating later this year, was approved during a visit to Beijing by World Bank President Jim Yong Kim. It will finance investment projects, knowledge development and human-resources cooperation at the global and regional levels, the bank said.

Premier Li Keqiang, who met with Kim after the signing ceremony, said China is willing to strengthen its partnership with the World Bank.

The government is paying great attention to suggestions on China's health reforms arising from joint research by the bank and the World Health Organization, he said.

Li told Kim that the Chinese economy has great resilience, potential and room for maneuver. He was speaking a day after the country posted a better-than-expected GDP growth figure of 7 percent for the second quarter.

Li said the government is capable of handling various risks in the field of economic development and maintaining a healthy level of growth.

"Over the years, China and the World Bank have cooperated closely,' he added.

Finance Minister Lou Jiwei said the establishment of the trust fund signals that "our partnership with existing multilateral development banks is growing, even as we support new ones".

"We will continue to partner with the World Bank in fighting poverty and promoting development," Lou added.

Kim began a three-day visit to China on July 15. He and Li discussed the global economy, development finance and health reforms.

Kim said China is a strong partner of the World Bank Group. "I look forward to a continued strong, cooperative and productive relationship," he added.

Kim met with leaders of the Multilateral Interim Secretariat of the Asian Infrastructure Investment Bank, including Secretary-General Jin Liqun, to discuss closer collaboration between the institutions.

(China Daily July 16, 2015)



 
Top Story
-Lending a Hand to Lenders
-A Small Bank Makes a Big Difference
-The Silk Sorority
-Oasis City
-Implications of the 'New Normal'
Most Popular
在线翻译
About BEIJINGREVIEW | About beijingreview.com | Rss Feeds | Contact us | Advertising | Subscribe & Service | Make Beijing Review your homepage
Copyright Beijing Review All right reserved