China?s loan to be spent for transborder projects
15:46, 16 June 2009
YEKATERINBURG. June 16. KAZINFORM /Aygul Tulekbayeva/ - The loan extended by China to the countries of the Shanghai Cooperation Organization is no targeted social assistance, President of Russia Dmitry Medvedev announced at the press conference in Yekaterinburg following the SCO leaders? summit.
As earlier reported, Chinese Chairman Hu Jintao announced the decision of his country to provide a loan to the SCO to the amount of USD 10 billion, thereby contributing to the SCO effort against global financial crisis.
"The Chinese Republic made a decision to provide USD 10 billion for numerous projects within the SCO. This is no targeted social assistance to the countries which suffered from the recession. It is about joint economic projects based on commercial principles", - Dmitry Medvedev stated at the press conference. He also added, those are ?transborder projects that will rally the countries, resolve long-standing economic problems".