China to Donate $400,000 for Poor Countries

China announced today that it will donate 400,000 dollars (283,500 euros) to the poorest countries to help them to join or participate in the World Trade Organization (WTO).

“The program of China will finance training for the least developed countries that are candidates for the WTO,” said the Chinese Embassy in a statement.

“It will also fund a meeting at the WTO” on the subject and allow “the participation of delegates from least developed countries” in panel discussions on topics that are “priority countries”.

The announcement comes as China prepares to hold on Monday and Tuesday in Geneva an international meeting of the WTO on the issue of aid for trade assistance that aims to help developing countries and least developed to increase exports of goods and services and to benefit from freer trade and greater opportunities for market access.

People to participate including Secretary General Ban Ki-moon, the president of the World Bank Robert Zoellick and Secretary General of the OECD (Organization for Economic Cooperation and Development) Angel Gurria. They will take stock of the “Aid for Trade Initiative”, launched at a WTO ministerial conference in December 2005.

This initiative includes grants and loans to encourage the construction of roads, ports and telecommunications investments, and provides technical assistance to the poorest countries to help develop business strategies.