China Announces Multi-Billion Yuan Investment and Training Programs at SCO Summit

During the Shanghai Cooperation Organisation (SCO) summit hosted by China, significant new initiatives were announced to support member states. The announcements, based on President Xi Jinping’s address, were detailed in a statement released by China’s Ministry of Foreign Affairs. China will implement 100 “small and beautiful” livelihood projects in SCO member states. In terms of financial aid, China will provide RMB 2 billion yuan in grants this year and an additional RMB 10 billion yuan in loans to the SCO Interbank Consortium over the next three years. Additionally, the country will double the number of SCO-specific scholarships beginning next year and launch an innovative PhD program to develop talent in academic, scientific, and technological fields. Over the next five years, China intends to establish 10 Luban Workshops in various SCO member states, while also providing 10,000 human resource training opportunities. President Jinping emphasized the SCO’s commitment to sustainable development. Ambassador Xu Feihong shared the details on social media.