KYRGYZSTAN: Prime Minister Wen Jiabao confirms $10 billion USD loan to boost economy in Central Asia

Record ID: 872759

  • Title: KYRGYZSTAN: Prime Minister Wen Jiabao confirms $10 billion USD loan to boost economy in Central Asia
  • Date: 5th December 2012
  • Summary: BISHKEK, KYRGYZSTAN (DECEMBER 5, 2012) (REUTERS) VENUE OF SHANGHAI COOPERATION ORGANIZATION (SCO) SUMMIT FLAGS OF NATIONS PARTICIPATING IN SUMMIT ENTRANCE CHINESE PREMIER WEN JIABAO ENTERING, GREETED BY KYRGYZ PRIME MINISTER ZHANTORO SATYBALDIYEV RUSSIAN PRIME MINISTER DMITRY MEDVEDEV ENTERING, GREETED BY SATYBALDIYEV SUMMIT STARTING SATYBALDIYEV SPEAKING SUMMIT IN PROGRESS (SOUNDBITE) (Mandarin) CHINESE PREMIER WEN JIABAO, SAYING (ACCORDING TO OFFICIAL TRANSLATION): "At the moment we are trying to increase our efforts in cooperation, with a special focus on the following directions: the first is the starting a $10 billion (USD) loan which China has promised in June this year, including an (inaudible) loan. We are going to place these funds mainly in infrastructure, energy and industrial projects to assist the development of the active economy and increasing the general wealth of citizens. We welcome the appeal of the member states to the Exim Bank of China, bank of development and to other financial organizations." REPRESENTATIVE OF PAKISTAN WEN AND DELEGATES DELEGATE CAMERAMEN VARIOUS OF MEDVEDEV SPEAKING SCO LOGO VARIOUS OF SUMMIT IN PROGRESS IRANIAN FIRST VICE PRESIDENT MOHAMMAD REZA RAHIMI SPEAKING DELEGATES LISTENING
  • Embargoed: 20th December 2012 12:00
  • Keywords:
  • Location: Kyrgyzstan
  • City:
  • Country: Kyrgyzstan
  • Topics: Economy
  • Reuters ID: LVA9ZYOZ66Y0L4VT2N3O3Y4TSW0A
  • Aspect Ratio:
  • Story Text: China's Premier Wen Jiabao confirmed the start of a loan for the development of infrastructure and economy in Central Asian states at a summit of the Shanghai Cooperation Organisation in Bishkek on Wednesday (December 5).
    Beijing will offer $10 billion (USD) in loans to SCO member states.
    "At the moment we are trying to increase our efforts in cooperation, with a special focus on the following directions: the first is the starting a $10 billion (USD) loan which China has promised in June this year," Wen said.
    "We are going to place these funds mainly in infrastructure, energy and industrial projects to assist the development of the active economy and increasing the general wealth of citizens. We welcome the appeal of the member states to the Exim Bank of China, bank of development and to other financial organizations," he added.
    The SCO, founded in 2001, includes China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. Iran, India, Pakistan and others attend the summits, but not as full members.
    Kyrgyzstan, where two presidents have been toppled in violent revolts since 2005 and per capita GDP is less than a tenth of that in next-door Kazakhstan, badly needs foreign investment to alleviate poverty that stokes instability.
    The former Soviet republic, which hosts both U.S. and Russian military air bases, has struggled to build Central Asia's first parliamentary democracy since former President Bakiyev's ouster in 2010.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2012. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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