Germany's major political parties reached an agreement on Friday to implement a debt reform plan, which will substantially boost national defense expenditure.
The plan was put forward by Germany's conservative Union bloc of CDU and CSU and the Social Democratic Party (SPD) during their talks to form a new coalition government.
On Friday, a compromise was reached with the Green Party, whose essential support is needed to secure a two-thirds majority in the Bundestag, the lower house of parliament, for amending the constitutional debt brake policy.
The constitutional debt brake was introduced in 2009 to limit the country's budget deficit.
Germany's debt reform plan proposes to lift the debt brake's restrictions on defense spending above one percent of gross domestic product (GDP), facilitating the enhancement of the nation's defense capabilities.
The plan also involves setting up a 500-billion-euro debt-financed fund for infrastructure construction in transportation network and power grid.
The package will be submitted to the Bundestag for approval on March 18.
Major German parties reach consensus on debt reform plan
China is actively developing new programs of foreign aid with a focus on emerging sectors such as the digital economy and artificial intelligence (AI), according to the China International Development Cooperation Agency (CIDCA) on Monday.
Speaking at a press conference in Beijing, CIDCA spokesman Li Ming said China has been continuously working on cooperation projects aimed at enhancing digital connectivity.
"We have been working continuously to implement cooperation projects on digital economy, as well as digital and smart connectivity. China has helped with the construction of digital infrastructure projects in 15 countries and international organizations, including Pakistan, Laos, Egypt and Uganda. These projects cover areas such as telecommunications, internet services, e-governance, smart transportation and satellites," said the spokesman.
"The China-aided Tanzania National Information and Communications Technology (ICT) Broadband Backbone project has reduced phone tariffs in Tanzania by 58 percent, and internet costs by 75 percent, enabling remote rural areas and their residents to enjoy the fruits of digital developments," he added.
China is also stepping up efforts to cultivate digital talent in developing countries, with nearly 300 training programs on digital-related topics held so far.
Meanwhile, Luban Workshop, a project named after an ancient Chinese craftsman to provide vocational skills training for local people in countries and regions across the globe, have expanded their curriculum to include artificial intelligence.
Chinese foreign aid expands into digital economy, AI initiatives
