Delegate the New Development Bank.Between the years 2000 and

Delegate Name: Ayesha JavidCountry: ChinaCommittee: the World BankTopic: Addressing the debts of developing countriesChina hold the position of the being the world’s fastest and the largest developing country. Over the years of its development, China has genuinely lent a helping hand in delivering assistance to the best of its ability to support and help other similar or less developed countries, especially the third world developed countries, to bring down poverty and improve livelihood. The fundamental rules that china believes in when it comes to in providing foreign assistance are mutual benefits and respect, equality for all, and living up to its promises . Not only does China now have a strong, well made a beneficial bilateral aid program, but it has also helped in creating numerous sources of multilateral funding for developing countries including but not limited to the Asian Infrastructure Investment Bank (AIIB) and the New Development Bank.Between the years 2000 and 2013, China provided nearly $31.5 billion of aid to Africa between 2000 and 2013 ($2.25 billion per year). From 2010 to 2012, China appropriated in total 89.34 billion yuan (14.41 billion U.S.D) for foreign assistance in three types: Grant, interest-free loans and concessional loans. Grants are usually offered to aid donee countries build small or medium-sized social welfare projects, and to fund human resources development cooperation, technical cooperation, emergency humanitarian aid etc. Pertaining to this, China supplied grants of 32.32 billion yuan, adding up to total assistance volume of 36.2 percent .Interest-free loans are mainly put forth to allow recipient countries build public facilities and start working on projects to improve people’s standard of living. China has offered 7.26 billion yuan of interest-free loans, accounting for 8.1 percent of its foreign assistance volume. Concessional loans are mostly used to help receiver countries in taking on manufacturing projects of various sized infrastructure projects with myriad of economic and social advantages, or for the supply of complete plants, machinery and electronic products. In these three years, the concessional loans that China had provided to other countries added up to 49.76 billion yuan, or in other words amounted to 55.7 percent of its total assistance volume in the same period.Peoples Republic of China and Democratic Republic of Congo share a cordial relationship. “The trade between these two countries greatly proliferated between the years of 2002 and 2008. This was greatly due to the massive growth in its exports of raw materials to China.” In the year 2008, Congo exported US$1.13 billion of cobalt to China. Exports of copper ore and hard woods to China also increased greatly. However Congo’s debt has reached around $591 million, among the highest in the world, and it has become nearly impossible for the country to pay it off thus since china holds pleasant trade relations with Congo, Chinese companies are spending $3 billion to build roads, hospitals and universities in Kinshasa and throughout theCongo in exchange for the minerals as Congo is home to nearly half of the world’s cobalt reserves. This barter is a form of development aid to CongoChina and Myanmar’s bilateral trade surpass $1.4 billion. Myanmar’s exports to China mainly focus around oil, steel and textile products, while Chinese exports to Myanmar extend from natural rubber to raw wood. China is providing extensive aid and helping to develop industries and infrastructure in Myanmar and aims to be the chief receiver from elevating Myanmar’s substantial oil and natural gas reserves. However since Myanmar already seem to have received bilateral aid and humanitarian aid from China the delegate of China does not find the need to provide Myanmar extra sources of finance perhaps the funding could be used instead for the betterment of developing and under developing nations. This would work for the betterment of the overall world economic climate.As a resolution’s policy to this affair, the delegate of China believes that it is very important to have developmental aid be provided to countries, this can hence be in the form of consolation of debts to underdeveloped countries, Bangladesh for example. This developmental aid is very important, not only to the affected country but also to countries which share trade relation with it. This is a possible as the country will then be able to export more goods to other countries. For example, if Bangladesh debts are addressed, its money can be used to extract more raw materials such as cotton and provide to other countries. This will benefit the overall economic climate of that region. However the delegate of China also believes that Developed Countries use their enormous debt amount as a ‘leverage’ and don’t seem to pay it off in the near future-hence these developed nations should not be helped.