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

Reuters  |  QINGDAO, China 

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.The SCO includes China, Russia, India, Kazakhstan and other Asian countries.($1 = 6.4031 Chinese yuan renminbi) (Reporting by Shu Zhang and Christian Shepherd; writing by Tony Munroe; editing by Richard Pullin)(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Sun, June 10 2018. 10:16 IST