By Gaurav Sharma
Xiamen (China), Sep 4 (IANS) China on Monday announced 500 million yuan (about $76 million) for economic and technological cooperation and exchanges among BRICS countries.
Beijing also said it will allocate $4 million to the New Development Bank(NDB).
"I wish to announce here that China will launch the economic and technical cooperation plan for BRICS (Brazil, Russia, India, China and South Africa) countries with 500 million yuan for the first term to facilitate policy exchange and practical cooperation and in the economic and trade field," Chinese President Xi Jinping said at the opening ceremony of the bloc's 9th summit here.
"China will contribute $4 million to the NDB project preparation facility to support the business operation on a long term development of the bank," he added.
(Gaurav Sharma is the IANS correspondent in Beijing. He can be reached at sharmagaurav71@gmail.com)
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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