New Delhi: President Xi Jinping of the People’s Republic of China announced a renewed US$ 10 million contribution to the China-IFAD South-South and Triangular Cooperation (SSTC) Facility last week.
This funding demonstrates China’s ongoing commitment to supporting SSTC within the UN system, with a particular focus on agricultural development in the Global South.
Established in 2018, the SSTC Facility is a development partnership within the UN system that supports agricultural development projects in 38 countries in Africa, Asia, the Pacific, Latin America, and the Caribbean.
The fund has so far supported over 20 projects, which have directly benefited more than 44,000 people.
The new funding from China will be used to expand the scale of the SSTC Facility by promoting knowledge sharing, policy engagement, technical cooperation, investment, and trade promotion. This will help to improve rural livelihoods and transform agri-food systems in the Global South, in line with the Sustainable Development Goals.