China announced a renewed contribution to the China-IFAD South-South and Triangular Cooperation (SSTC) Facility on June 30, equivalent to US$10 million in Renminbi. This funding demonstrates China’s ongoing commitment to supporting SSTC within the UN system with particular focus on agricultural development in the Global South.
This year marks a significant milestone for the China-IFAD SSTC Facility, which was established in 2018 with an initial contribution of US$10 million from China. The Facility has effectively leveraged knowledge, technologies, and resources from the Global South to accelerate rural poverty alleviation, enhance productivity, and drive rural transformation. As of June 2024, the Facility has supported 20 SSTC projects across 38 countries in Africa, Asia and the Pacific, and Latin America and the Caribbean, directly benefiting over 44,000 people and indirectly impacting more than 70,000 individuals.
As the first facility dedicated to SSTC within IFAD, with the new funding, the China-IFAD SSTC Facility will continue to lead efforts in promoting SSTC by fostering cooperation in key areas such as knowledge exchange, policy engagement, technical cooperation, investment, and trade promotion through smart and impactful grants, to improve the rural livelihoods and transforming the agri-food systems in the Global South with the aim of achieving SDGs, particularly SDG1 and SDG2.