China ready to deepen cooperation with all parties within GDI: Chinese FM

China

China ready to deepen cooperation with all parties within GDI: Chinese FM

2024-09-27 13:58 Last Updated At：17:17

Chinese Foreign Minister Wang Yi told an event Wednesday at the United Nations (UN) headquarters in New York that China stands ready to deepen cooperation with all parties within the framework of the Global Development Initiative (GDI), a proposal put forward three years ago at the United Nations by Chinese President Xi Jinping.

Addressing the event themed "Global Development Initiative Supports the Global South -- China in Action," Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, said that over the past three years since the inception of the GDI, it has evolved from a Chinese proposition to an international consensus, and from a cooperation concept to joint actions, contributing China's solutions and injecting Chinese strength into the implementation of the United Nations' 2030 Agenda for Sustainable Development.

The initiative has continuously consolidated the consensus on giving priority to prioritizing development, becoming a vivid practice of building a community with a shared future for mankind in the field of development, Wang said.

Noting the support and participation of over 100 countries and 20 international organization in the GDI, as well as the initiative's remarkable mechanism-building achievement, Wang said that no country can be left behind in the worldwide modernization process, and that the GDI prioritizes supporting the development and revitalization of countries in the Global South.

China stands ready to deepen cooperation with all parties within the GDI and accelerate the implementation of the UN 2030 Agenda for Sustainable Development, so that the gains of modernization will benefit every country and every person, Wang said.

Also attending the event, Philemon Yang, president of the 79th session of the UN General Assembly, said that the China-proposed GDI has shown strong leadership and received support from many countries.

The initiative is of great significance as it provides a new path to accelerate the realization of the Sustainable Development Goals and help countries in the Global South, Yang added.

The event was also attended by UN Under-Secretary-General for Economic and Social Affairs Li Junhua, and ministerial-level officials from more than 20 countries, including Laos, Cambodia, Ethiopia, Burundi, Uganda, Burkina Faso, the Dominican Republic, and Cuba.

AIIB expands global membership to 110

2024-09-27 16:23 Last Updated At：17:07

The Asian Infrastructure Investment Bank (AIIB) has grown to 110 approved members after its Board of Governors voted in support of the application by the Republic of Nauru on Thursday during the bank's ninth annual meeting.

The ninth annual meeting of the AIIB was held in Samarkand, Uzbekistan from Wednesday to Thursday, marking the first time that the AIIB has held its flagship event in Central Asia.

Running under the theme "Building Resilient Infrastructure for All", this year's annual meeting focused on key issues, including infrastructure development, multilateral cooperation, regional interconnectivity and response to global challenges such as climate change.

"The Bank's climate financing was scheduled to reach 50 percent by 2025, but we have achieved that target two years ago, and we will continue to finance more. In terms of promoting regional connectivity, we will contribute more to the regional and global integration, or the cross-border interconnectivity in other words," said AIIB's president Jin Liqun.

The AIIB also focuses developing green economy, achieving sustainable growth and promoting the construction of infrastructure through digital technologies, according to Jin.

The Board of Governors of the AIIB announced at a ceremony marking the end of the ninth AIIB annual meeting that the bank's 10th Annual Meeting will be held in Beijing in June 2025 and Lan Foan, the AIIB Governor for China and also China's Minister of Finance will be the Chair of the AIIB Board of Governors for 2025.

Beginning operations in Beijing in January 2016, the AIIB is a multilateral development bank whose mission is to finance infrastructure projects that prioritize sustainability. The bank has approved financing of over 50 billion U.S. dollars for around 300 projects since its inception.