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Hu Promises $10Bln in Loans

By The Moscow Times

Chinese President Hu Jintao said Thursday that Beijing would offer $10 billion in loans to the member states of the Shanghai Cooperation Organization.

"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. Hu said previously that China would "continue providing member states with concessional loans." It is unclear how much money from that past commitment was disbursed.

(Reuters)

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