China to give SCO member-countries loans worth $10 billion

China will extend loans totally worth $10 billion to SCO (Shanghai Cooperation Organization) member-countries. President of China Hu Jintao also told about other offers Beijing prepared for all the SCO member-states, Tengrinews.kz reports from SCO summit in Beijing. “In the next three years China will provide training to 1,500 experts of the member-states. Within the next 10 years we will provide 30 thousands quotas to students of the member-states and invite 10 thousand professors and students of the Confucius Institutes for qualification upgrade training and education in China. The Chinese party made a decision to once again extend loans totally worth $10 billion to member-states,” Hu Jintao said opening the meeting of the Council of heads of SCO member-countries in the extended format. “The purpose (of such offers) is to boost development of the member-states and support the projects of economic cooperation within SCO. We need to make SCO an effective mechanism for development of external contacts and enhancement of the international influence,” Chinese President said. By Renat Tashkinbayev