FCSSC Memorandum of Understanding with the UNDP and the Made in Africa Initiative

On December 8, 2015, during the 1st sub-forum of the Forum on China-Africa Co-operation on poverty reduction, representatives of the Finance Center for South-South Cooperation (FCSSC), the United Nations Development Programme(UNDP) and the Made in Africa Initiative signed a Memorandum of Understanding to promote inclusive and sustainable industrial development in Africa.

Agi Veres, Country director of UNDP China, said that UNDP’s support to the Made in Africa Initiative will help African countries grasp the opportunity of global economic transformation to develop inclusive business in Africa.

Helen Hai, CEO of the Made in Africa Initiative, stated that this joint effort will create quick successes for generating decent jobs and dynamic growth, providing aspiration and snowballing effects on poverty reduction and structural transformation in Africa.

Wu Zhong, Director-General of FCSSC, commented that this partnership effectively leverages the respective advantages and characteristics of each Party: the extensive network and experience of development cooperation from the UNDP, the precise demands from Africa and the specialized platform for production capability utilization and development financing. He also expressed his confidence that the collaboration will become a model that adds to the successful case of South-South Cooperation.