Experts discuss creating SCO financial institutions

Эксперты обсудили вопросы создания финансовых институтов ШОС

On 3 June 2021, an expert meeting under Tajikistan's chairmanship on the establishment of the SCO Development Bank and SCO Development Fund (Special Account) was held via videoconference. Representatives of the member states finance ministries and banks took part in it.

Experts discussed ways to establish a SCO financial institution as well as the SCO Bank's goals and tasks in the context of the existing international development institutions and regional financial mechanisms involving SCO member states in the region as well as the provisions of the draft Concept of the establishment of the SCO Development Bank and SCO Development Fund (Special Account).

The parties agreed to continue discussions on this subject within their expert group in the second half of 2021.

The expert discussion continues in line with Decision No. 90 of the SCO Council of Heads of Government (Prime Ministers) dated 3 November 3 2016, On further work on the establishment of the Shanghai Cooperation Organisation Development Bank and the Development Fund (Special Account) of the Shanghai Cooperation Organisation, and approaches to the establishment of these financial mechanisms.