China is "a leader" in advancing South-South cooperation, UN chief Ban Ki-moon said on Saturday.
China has floated many important initiatives, including the BRICS Development Bank, the Asia Infrastructure Investment Bank, and the Silk Road Development Fund, Ban said at a high-level roundtable on South-South cooperation, co-hosted by China and the United Nations.
Ban's remarks came after Chinese President Xi Jinping announced that China will provide 2 billion U.S. dollars to support South-South cooperation.[Special coverage]
On Friday, Xi also pledged 3 billion dollars to the newly launched South-South Climate Cooperation Fund, Ban noted.
"All this support will go a long way to address the needs of the poor and most vulnerable and contribute to political momentum for the success of the climate negotiations in Paris in December," the UN chief said.
The event was held on the sidelines of the UN Sustainable Development Summit, which is going to adopt a post-2015 sustainable development agenda.
It is expected to provide a platform to exchange views and share insights on the ways in which South-South cooperation and triangular cooperation can contribute to the implementation of the agenda.
