China suggests to SCO creation of development bank.

LONDON, December 2 (Itar-Tass) - The Republic of China has suggested
to member countries of the Shanghai Cooperation Organization (SCO) the
creation of a development bank, the Bloomberg business news agency
reported on Thursday.
Beijing reported that it could contribute to its capital eight billion
dollars. China expects other SCO member countries to contribute a total of
two billion dollars. So, the sum total will reach ten billion dollars,
Bloomberg reports.
In the opinion of China, the SCO development bank will finance the
implementation of projects in the sphere of energy and energy
infrastructure, in the first place, including the building of oil and gas
pipelines.
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