China, a founding member of the Shanghai Cooperation Organisation (SCO) and this year’s summit host, has revealed substantial new initiatives designed to aid and develop SCO member states. The Ministry of Foreign Affairs of China released a statement outlining President Xi Jinping’s summit address, which focused on concrete measures to improve the SCO. China plans to fund 100 “small and beautiful” livelihood projects in member nations. The financial commitments include a RMB 2 billion yuan grant for the current year and a RMB 10 billion yuan loan to the SCO Interbank Consortium member banks, disbursed over the next three years. Further, starting next year, China will increase the number of SCO-specific scholarships, and will institute an innovative PhD program for advanced academic and scientific research training. Over the next five years, China will establish 10 Luban Workshops and offer 10,000 human resources training opportunities. President Jinping reiterated the organization’s dedication to lasting development. Chinese Ambassador to India, Xu Feihong, also shared the details on social media.
SCO Summit: China Launches Large-Scale Aid and Training Programs for Member Nations
