The United Nations (UN) Technological and Information Promotion System (TIPS) said it will act as a conduit for investment in large-scale projects in China, adding that it will also assist Chinese firms seeking to become approved suppliers to UN agencies. An official at TIPSï¿½ East China Operations said that 100 projects are planned, with each costing US$12 million or more for a total investment of around US$12 billion. The UN will not directly invest in the projects, rather it will coordinate investment from the EU, World Bank and other financial institutions. TIPS will perform due diligence on project proposals. The majority of projects will be in the energy or infrastructure sectors.