{"id":6606,"date":"2025-09-02T01:13:06","date_gmt":"2025-09-02T01:13:06","guid":{"rendered":"https:\/\/immigration-services.org\/?p=6606"},"modified":"2025-09-02T01:13:06","modified_gmt":"2025-09-02T01:13:06","slug":"china-advances-development-bank-to-help-10-eurasian-countries-curb-us-dollar-risks","status":"publish","type":"post","link":"https:\/\/immigration-services.org\/?p=6606","title":{"rendered":"China advances development bank to help 10 Eurasian countries curb US dollar risks"},"content":{"rendered":"

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A strong push on Monday to create a development bank serving 10 Eurasian countries, including China, would help insulate the group from increasingly risky US dollar-dominated trade while accelerating key infrastructure work, according to analysts.<\/p>\n

Such a concessional lender \u2013 part of an idea that has long been put on hold \u2013 would serve China, Russia, India and seven other nations that have worked together since 2001 as the Shanghai Cooperation Organisation (SCO).<\/p>\n

President Xi Jinping said at a summit of the organisation\u2019s leaders in Tianjin on Monday that the bank \u201cshould be established as soon as possible to provide stronger support for the security and economic cooperation of member states\u201d, Xinhua reported. <\/p>\n

And an official statement later released by Xinhua in the evening said the SCO had \u201cdecided to establish a development bank and accelerate consultations on a series of issues related to the financial institution\u2019s operation\u201d.<\/p>\n

Russian state media also reported that summit participants had decided to establish the bank.<\/p>\n

\u201cIt will be a natural or a logical step forward,\u201d said Victor Gao, vice-president of the Beijing-based Centre for China and Globalisation think tank. \u201cI personally believe the momentum is on China\u2019s side.\u201d<\/p>\n

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A strong push on Monday to create a development bank serving 10 Eurasian countries, including China, would help insulate the group from increasingly risky US dollar-dominated trade while accelerating key infrastructure work, according to analysts. Such a concessional lender \u2013 part of an idea that has long been put on hold \u2013 would serve China,…<\/p>\n","protected":false},"author":1,"featured_media":6607,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-6606","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-2"],"yoast_head":"\nChina advances development bank to help 10 Eurasian countries curb US dollar risks - Immigration Services<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bccci.net\/bg\/blog\/china-advances-development-bank-to-help-10-eurasian-countries-curb-us-dollar-risks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China advances development bank to help 10 Eurasian countries curb US dollar risks - Immigration Services\" \/>\n<meta property=\"og:description\" content=\"A strong push on Monday to create a development bank serving 10 Eurasian countries, including China, would help insulate the group from increasingly risky US dollar-dominated trade while accelerating key infrastructure work, according to analysts. 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