The Third Consultation Meeting on Shanghai Cooperation Organization (SCO) Development Bank was held on May 28 in Bishkek, Kyrgyz Republic. The meeting was co-chaired by Akzholov Nurbek Akzholovich, Deputy Minister of Finance of the Kyrgyz Republic and Liao Min, Vice Minister of Finance of China.
Delegates from 20 countries as well as the SCO Secretariat participated in the meeting. The participating parties had in-depth consultations on the key elements of SCO Development Bank, reaffirmed their commitment to advancing the multilateral consultation process and agreed to report the progress on establishing SCO Development Bank to the SCO Finance Ministers and Central Bank Governors Meeting.
Establishing the SCO Development Bank is the political consensus reached at the 25th Meeting of the SCO Council of Heads of State in Tianjin China, on September 1, 2025. The declaration states that interested SCO members, reiterating the importance of establishing the SCO Development Bank, decided to establish it and intensify consultations on a range of issues related to the functioning of this financial institution.