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QUITO, Oct. 13 (Xinhua) -- China's decision to set up a South-South cooperation fund for combating climate change benefits developing countries, an Ecuadorian legislator said Wednesday.
The initiative brings good opportunities for nations like Ecuador to raise funding to implement programs for mitigating climate change, said Carlos Viteri who chairs the Committee on Biodiversity and Natural Resources of the National Assembly.
On Sept. 25, Chinese President Xi Jinping announced that China will make available 20 billion yuan (about 3 billion U.S. dollars) for the China South-South Climate Cooperation Fund, which will support other developing countries to combat climate change.
Analysts say China is ready to work with other developing countries that are vulnerable to climate change.
Ecuador, whose economy has been hit by falling oil prices in the international market, is threatened by the onset of El Nino conditions in November and December this year, which will require resources to meet its ravages.
Ecuadorian President Rafael Correa said that his country has got better prepared to confront such adverse weather conditions and the government has invested over 1 billion dollars to help protect 200,000 hectares of land against flooding.
At the latest UN General Assembly held in September in New York, Correa called for signing a binding agreement against climate change and asked the Latin American and Caribbean region to work as a bloc.
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Interview: China plays key role in promoting South-South cooperation: UN official
ADDIS ABABA, Oct. 7 (Xinhua) -- China plays a key role in promoting South-South cooperation through improving "key infrastructure" in developing countries, an official at the UN Conference on Trade and Development (UNCTAD) has said.
In an interview with Xinhua on Wednesday, Tesfachew Taffere, the UNCTAD Director for Africa, Least Developed Countries and Special Programmes, said China has built key infrastructure for developing countries, especially those in the energy sector and transportation. Full Story
