China will provide the SCO countries $ 10 billion

File photo: Heads of SCO Members and observer nations.

China will provide SCO partners loans in the amount of $ 10 billion, in addition, over the next three years, China will train 1500 experts from countries of the SCO. The funds from China will support the economic cooperation within the organization and the development of its members.

Beijing also plans to establish 30 000 government scholarships for students. Over the next ten years the country will support 10,000 teachers and students in the global network of Confucius Institutes.

Last week China hosted the summit of the Shanghai Cooperation Organization (SCO), which was founded in 2001. The SCO includes China, Russia, Kazakhstan, Tajikistan, Kyrgyzstan, while Uzbekistan. Iran, India, Mongolia and Pakistan have observer status in the organization. The summit was attended by Russian President Vladimir Putin, President Hu Jintao, Kazakh President Nursultan Nazarbayev, Kyrgyz President Atambaev, President of Tajikistan Emomali Rakhmonov and Uzbek President Islam Karimov.

The countries of the SCO account about 25% of the entire population of the world and represent about 15% of global GDP. The summit of SCO member states held once a year.