CHINA China policy bank reports more than $100 bln loans to SCO countries

CHINA

China policy bank reports more than $100 bln loans to SCO countries

Xinhua

23:20, June 07, 2018

View of the headquarters of the China Development Bank Tower (CDB) in Beijing, China. [File photo: IC]

View of the headquarters of the China Development Bank Tower in Beijing, China. (Photo: IC)

China Development Bank (CDB), a major policy bank, has so far loaned more than $100 billion to members of the Shanghai Cooperation Organization (SCO), data from the bank showed.

The CDB currently has $41.34 billion and 16.37 billion yuan (about $2.56 billion) in loan balances to SCO member countries, the bank said Thursday.

By the end of 2017, the CDB had also loaned $7.69 billion and 3.34 billion yuan to member banks of the SCO Interbank Consortium, with outstanding loans standing at $2.05 billion and 3.3 billion yuan.

The SCO accounts for over 60 percent of the Eurasian landmass, nearly half of the world's population, and over 20 percent of global GDP.

The regional organization has eight member states: China, India, Kazakhstan, Kyrgyzstan, Pakistan, Russia, Tajikistan, and Uzbekistan, as well as four observer states and six dialogue partners.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue