China says to offer $10 bln in loans to SCO member states

[Moazam Khan]

BEIJING: Chinese President Hu Jintao said on Thursday that Beijing will offer $10 billion in loans to the member states of the Shanghai Cooperation Organisation.

The SCO, founded in 2001, includes China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. Iran, India, Pakistan and others attend the summits, but not as full members.

“China has decided to give to the other member states $10 billion in loans,” Hu said in a speech broadcast on state television. He did not elaborate on how the funds would be used.

At an SCO summit in June 2009, Hu offered Central Asian states $10 billion of credit to help counter the global economic slump. Hu said previously that China would “continue providing member states with concessional loans”.

It is unclear how much money from that past commitment was dispersed.

 

[Screambowl]

for this reason only Mr. Zardari is going full fledged for SCO permanent membership?

 

[DelhiDareDevil]

for this reason only Mr. Zardari is going full fledged for SCO permanent membership?

Assume its part of Pakistan wanting to join as Pakistan keeps on borrowing from Asia and World Bank to finance energy projects and then cant pay off their interest and have to take out more loans.

It's in Pakistan best interst to join SCO to get low interest loans from China.