Author: HUIZHONG WU Associated Press, ABC News
\ Published on: 01/09/2025 | 05:23:21

AI Summary:
\ Xi Jinping pledges $1.4 billion in loans in the next three years for members of the SCO. The group, originally seen as a foil to U.S. Influence in Central Asia, has grown in size and influence over the years. With the addition of the bank and an emphasis on providing loans, xi is attempting to expand the scope of the organization. SCO's membership now includes Russia, Belarus, China, India, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan and Uzbekistan. The summit comes days ahead of a planned military parade that Beijing will host. On Sunday, Xi met with Modi where they vowed to resolve their differences. Putin said Russia and China are jointly "against discriminatory sanctions" Russia is eager for the SCO to take a growing role on the global stage. Its focus in the past has always been on propping up security initiatives of its member states.

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