China Announced $80 Million Funding Plan for BRICS

China will give 500 million yuan ($76.4 million) for a BRICS economic and technology cooperation plan, and another $4 million for projects at the BRICS countries’ New Development Bank stated Chinese President Xi Jinping.

The announcement came amid questions over the relevance of BRICS and China’s commitment to its New Development Bank (NDB) in light of the Belt and Road initiative and the China-led Asian Infrastructure Investment Bank. 
Important Takeaways from Above News-
  • The 9th BRICS Summit was held  in China.
  • Xi Jinping is the President of China.
Source- The Hindu Business Line

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