China Will Provide 10 Billion Dollars for SCO Countries

16.06.2009 — News

THE SVERDLOVSK OBLAST.

At the SCO summit on 16 June Hu Jintao, President of the People's Republic of China, said that China was ready to provide a 10 billion dollars loan to the Shanghai Cooperation Organisation countries with a purpose of overcoming the consequences of the financial crisis.

The Chinese leader pointed out that the SCO has a huge trade and economic potential which is not used to its full. According to Hu Jintao, intergovernmental projects in energy and transportation sectors will help neutralise recession. In addition, the member countries should engage in the financial dialogue, which can be initiated by the ministers of finance and central banks' leaders.