China pledges 3 billion USD for developing countries to fight climate change

Source: Xinhua News

China pledged on Friday a 20-billion-yuan (3-billion-U.S. dollars) fund to help other developing countries combat climate change.

The China South-South Climate Cooperation Fund will also enhance their capacity to access the Green Climate Fund (GCF), according to a China-U.S. joint presidential statement on climate change signed here during Chinese President Xi Jinping's state visit to the United States.

China and the United States recognized the importance of mobilizing climate finance to support low-carbon, climate-resilient development in developing countries, particularly the least developed countries, small island developing states and African countries, according to the statement.

In this connection, the United States also reaffirmed its 3-billion-dollar pledge to the GCF.

In the statement, the Chinese and U.S. presidents reaffirmed determination to implement domestic climate policies, strengthen bilateral coordination and cooperation, and to promote sustainable development and the transition to green, low-carbon as well as climate resilient economies

The Chinese president has rounded off his first state visit to the United States where he held talks with his U.S. counterpart Barack Obama, toured major corporate headquarters and local schools, and spoke to both political figures and ordinary people from all walks of life.