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China Pledges $2 Billion To Help Poor Countries

Chinese President Xi Jinping

Speaking at the UN's sustainable development summit, Chinese President Xi Jinping on Saturday announced the establishment of an assistance fund starting with $2 billion, to help least developed countries implement their development programmes. China also promised to increse the fund to $12 billion by 2030 and exempt underdevelopment countries from paying loans due by 2015 end.