SCO Summit: Xi Jinping Commits $275 Million Grant & Projects To Bolster SCO Cooperation

On day two of the largest Shanghai Cooperation Organisation (SCO) summit, Chinese President Xi Jinping emphasised on the role of fairness and justice in maintaining international relations, while pledging 2 billion yuan ($275 million) in grant to SCO states in 2025.

While opposing "Cold War mentality, camp confrontation, and bullying behaviour", the Chinese President announced his plans to establish SCO Development Bank for this purpose.

Meanwhile, he outlined several initiatives that would bolster economic development via bolstering grants for educational programmes.

During the ongoing SCO Summit in Tianjin, China, Xi announced that the east Asian nation would double the number of SCO-specific scholarships and introduce a doctoral programme.

Further, he said SCO had become “a model for a new type of international relations,” adding that the member states unequivocally opposed external interference.

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He also noted that Beijing's deepening economic ties with the grouping, noting cumulative trade with SCO countries has surpassed $2.3 trillion, with Chinese investments exceeding $84 billion.

He also agreed on China playing a crucial part in fostering “a friendly network of the SCO’s peoples” and advance Belt and Road cooperation across the region.

“China will work with all parties to draw a blueprint for high-quality development and take the SCO to a new stage,” Xi said, while mentioning that this entity had transformed regional borders “into bonds of friendship and mutual trust.”

On the other hand, PM Narendra Modi, Chinese President Xi Jinping, and Russian President Vladimir Putin were seen sharing a light moment, chatting and posing together, signalling stronger bilateral ties and mutual understanding ahead.