China Offers Neighbors $10-Billion Credit
Posted on 16. Jun, 2009 by admin in Buzz
China offers to give a credit of $10 billion to the Shanghai Cooperation Organization (SCO) to tide over the economic crisis. Chinese President Hu Jintao had offered a proposal at SCO Summit, held in Yekaterinburg, Russia. The focus of the SCO Summit had been not only on economic crisis and global slow down but also on the terrorism and drug related crimes originating from the Afghanistan.
Furthermore, the Chinese President Hu Jintao advised the Shanghai Cooperation Organization Summit in the city of Yekaterinburg that projects on energy, transportation as well as telecommunications should be taken up on a speedy pace to ensure achieving financial and economic stability of all the member states; which include Russia, China Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan.
President Hu Jintao acknowledged the unemployment and liquidity problems and so offered the SCO members a credit of $10 billion to the battle against the economic crisis.
