Coordinators of SCO ( the Shanghai Cooperation Organization) Interbank Association member banks met in Moscow on June 5. The meeting was chaired by Vnesheconombank and held at the level of deputy heads of the Kazakh Development Bank, the China State Development Bank, the Settlement and Savings Company (the Kyrgyz Republic), Vnesheconombank, the National Bank of Tajikistan and the National Bank for Foreign Economic Affairs of the Uzbek Republic.
Coordinators focused on discussing multilateral projects that are of great importance for the economies of SCO member states. Work on these projects can be started as early as this year. Using a pragmatic approach, they discussed projects in power engineering, transport infrastructure development, high technologies, in particular, on the territories of Kazakhstan, Kyrgyzia, and other SCO countries. “Undoubtedly, we have made headway on the issue of selecting investment projects,” said Vnesheconombank First Deputy Chairman N. Kosov..
Coordinators have agreed upon and initialled “Regulations for SCO Interbank Association Member Banks in Selecting, Examining and Implementing Investment Projects.” This is a very important working document that sets forth unified rules, methods and procedures upon working on projects.
A text of the draft Agreement on Cooperation between the Interbank Association and the SCO Business Council has been agreed upon. The Agreement lays the foundation for equal and long-term cooperation between the two leading entities in the SCO economic space.
The SCO Interbank Association has plans to establish partner relations with the Eurasian Development Bank.
In the course of their meeting coordinators have identified a package of decisions and documents to be approved at a meeting of the SCO Interbank Association Council this August in Bishkek.
Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 208-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru
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