China announces 100 livelihood projects, RMB 2 billion grant and SCO-focused scholarships

BEIJING: Chinese Ambassador to India Xu Feihong on Monday announced a series of new initiatives that China will implement for the benefit of Shanghai Cooperation Organisation (SCO) member states.

“Going forward, China plans to implement 100 ‘small and beautiful’ livelihood projects in member states with such need. It will provide RMB 2 billion yuan in grant to SCO member states within this year, and will issue an additional RMB 10 billion yuan in loan to the member banks of the SCO Interbank Consortium over the next three years,” Xu posted on X.

He further said, “Starting from next year, China will double the current number of SCO-specific scholarships, and launch an SCO innovative PhD program to jointly train high-caliber talent in academic as well as scientific and technological research.”

Outlining the long-term vision, Xu added, “In the next five years, China will establish 10 Luban Workshops in SCO member states and provide 10,000 human resources training opportunities.”

He further said the SCO summit had served to build consensus and chalk a blueprint for development, reflecting the broader objectives highlighted by President Xi Jinping during the summit.

“President Xi Jinping and his wife Peng Liyuan held a welcoming banquet for the international dignitaries attending SCO summit in China. President Xi Jinping stressed that the SCO has grown into a significant force in promoting a new type of international relations and building a community with a shared future for humanity. This Summit is tasked with an important mission: to build consensus among all parties, ignite momentum for cooperation, and draw up a blueprint for development. It is believed that with the collective efforts of all parties, this Summit will be a complete success and the SCO will play an even greater role,” he said. (ANI)

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