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China gave $18b in foreign aid between 2010-2012

Published on Jul 10, 2014 11:10 AM

BEIJING (AFP) - China, the world's second-largest economy after a decades-long boom, provided a total of 89.3 billion yuan (S$18 billion) in foreign aid in the three years to 2012, it said on Thursday.

The assistance, in the form of grants, interest-free loans and concessional loans, went to 121 countries - 12 of them in Europe - the State Council, China's Cabinet, said in a report.

The total amounts to 0.06 per cent of China's combined GDP of 139 trillion yuan over the period, far below the 0.7 per cent of GNP target proclaimed by the UN for developed nations.

The US, which has an economy almost twice the size of China's, provided a total of US$31.2 billion (S$38.8 billion) in economic assistance during fiscal year 2012 alone, according to figures on the website of the United States Agency for International Development.

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