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China policy bank reports over $100b loans to SCO countries

Xinhua | Updated: 2018-06-08 13:52
An employee counts Chinese one-hundred yuan banknotes at the Bank of China Hong Kong Ltd headquarters in Hong Kong, Nov 12, 2016. [Photo/VCG]

BEIJING - 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.

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