Xi Jinping Provides 4.9 Trillion Won in Loans and Grants to Five Central Asian Countries

Chinese President Xi Jinping announced plans for approximately 5 trillion won worth of concessional and grant aid to the five Central Asian countries (Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, Turkmenistan) at the China-Central Asia Summit on the 19th.

[Image source=Yonhap News]

According to the Chinese Ministry of Foreign Affairs, President Xi stated in his keynote speech at the summit held in Xi'an, Shaanxi Province, "China will provide a total of 26 billion yuan (about 4.9 trillion won) in loan support and grant aid to cooperate with Central Asian countries and help their self-development."

He added, "China will develop cooperation plans for poverty alleviation projects through science and technology with Central Asian countries and implement the China-Central Asia technology and skills upgrade plan," and "encourage Chinese enterprises to offer more employment opportunities locally."

There is a policy to establish more traditional medicine centers in Central Asia and accelerate the mutual establishment of cultural centers. It was also announced that Chinese government scholarships will continue to be provided to Central Asian countries.

President Xi emphasized that the world needs a stable, prosperous, and interconnected Central Asia, stating, "Brotherhood is better than all wealth." He stressed the need to uphold four principles for building a community with a shared future between China and Central Asia: mutual assistance in preventing and responding to external invasions or disasters ('shuwangxiangzhao'), joint development, universal security, and intergenerational friendship. He also revealed eight areas of mutual cooperation, including expanding economic and trade relations and enhancing energy cooperation, along with detailed plans for these.