On 23 August 2022, Tashkent hosted the 18th meeting of the SCO Interbank Consortium Council under the chairmanship of the National Bank for Foreign Economic Activity of the Republic of Uzbekistan.
SCO Secretary-General Zhang Ming delivered an address at the meeting and outlined the key priorities of cooperation between the SCO member states in the financial, banking and investment areas.
Various bank executives – members and partners of the SCO Interbank Consortium – gave reports on the consortium’s joint performance.
Following the meeting, the action plan for the SCO Interbank Consortium members to support and develop SCO intraregional economic cooperation for the mid-term (2022-2027) was signed, and the framework principles of interaction and cooperation between the SCO Interbank Consortium banks in finance were adopted.
The SCO Interbank Consortium was created in 2005 in order to organise a mechanism for financing and banking services in investment projects supported by the governments of the SCO member states. Among the member banks of the consortium are the Development Bank of Kazakhstan, the China Development Bank, VEB.RF (Russia), the Amonatbonk State Savings Bank (Tajikistan), National Bank for Foreign Economic Activity of the Republic of Uzbekistan, RSK Bank (Kyrgyz Republic), Habib Bank Limited (Pakistan), and India Infrastructure Finance Company Ltd. The partners include the Eurasian Development Bank, the Belarusbank Savings Bank, the Development Bank of Mongolia. The consortium’s highest body is the Council of the SCO Interbank Consortium.