China policy bank reports over $14.6b loans to SCO IBC member, partner countries

2022-09-15 Editor : Zhao Li ECNS App Download
Special: Chinese President Xi attends SCO summit, visits Kazakhstan, Uzbekistan

(ECNS)-- As of the end of August, China Development Bank (CDB), a major policy bank, had completed 63 cooperation projects with member and partner banks of Shanghai Cooperation Organization Interbank Consortium(SCO IBC), granting loans totaling $14.6 billion, data from the bank showed.

The cooperation covers many key fields including production capacity, infrastructure development, green and low carbon industries, social livelihood, small and medium-sized enterprises (SMEs), and more.

As of the end of August, CDB has cooperated with Uzbekistan Foreign Economic Bank, a member bank of the SCO IBC, to carry out nine credit cooperation projects, granting loans totaling $646 million and 42 million yuan, supporting the development of more than 550 local SMEs.

Meanwhile, the CDB had issued a total of $43.4 million sub-loans to Tajikistan Savings Bank to support local SMEs and private owners to import equipment and commodities, involving agriculture, animal husbandry and sideline businesses, building materials, agricultural products, food processing and more.

Established in October 2005, the SCO IBC currently has eight member banks, including CDB, and two partner banks.

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