China says to offer $4.7 billion in loans under SCO framework

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QINGDAO, China (Reuters) – Chinese President Xi Jinping, speaking at a summit of regional security bloc, the Shanghai Cooperation Organisation (SCO), said the country would offer the equivalent of 30 billion yuan ($4.7 billion) in loans under a framework formed by SCO countries.

A TV screen shows a live broadcast of Chinese President Xi Jinping attending a group photo of Shanghai Cooperation Organization (SCO) summit at the media center, in Qingdao, Shandong Province, China June 10, 2018. REUTERS/Aly Song

The SCO includes China, Russia, India, Kazakhstan and other Asian countries.

Reporting by Shu Zhang and Christian Shepherd; writing by Tony Munroe; editing by Richard Pullin

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