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China to allocate $10bln to SCO member states for economic development

Regular summit of the Shanghai Cooperation Organization continued today in Beijing in expanded format.

Heads of all SCO member states – Russia, Tajikistan, Kazakhstan, Kyrgyzstan, Uzbekistan and China – arrived in Beijing to take part in the summit.

The event has also brought together heads of observer states – Mongolia, India, Iran and Pakistan – and representatives of international organizations.

As reported by the Tajik President’s press service, Chinese President Hu Jintao welcomed members of the summit this morning. He said China is planning to allocate $10bln in the form of preferential credits to SCO member states for sustainable economic development and security.

According to the source, President Emomali Rahmon supported the “Main directions of SCO midterm development strategy” project and said that “the house of SCO built by joint efforts must be well-protected.”

Tajik leader also supported a new SCO three-year program to combat terrorism, extremism and separatism.

Summit participants approved 10 new documents aimed at development of different spheres in SCO member states. Additionally, Afghanistan was granted an observer status and Turkey has become SCO’s dialogue partner.

Translations:

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