The Shanghai Cooperation Organization Interbank Consortium Council meeting held
Vnesheconombank Deputy Chairman Sergei Vasiliev participated in the 12th meeting of the Shanghai Cooperation Organization Interbank Consortium Council timed to coincide with a SCO Heads of State Council meeting in the city of Tashkent (the Republic of Uzbekistan).
In the course of the meeting, heads of SCO Interbank Consortium banks discussed key issues of the current and future multilateral cooperation including joint funding of investment projects, relationships with development institutions operating in the SCO area and in the Asian region.
As part of enhancing relations with financing institutions of observer states and partners in the SCO dialogue they signed a Resolution by the SCO Interbank Consortium Council to assign a partner bank of the consortium status to the Mongolia Development Bank.
In accordance with the rotation principle approved by the SCO Interbank Consortium, Chairman of the Kazakhstan Development Bank Bolat Zhamishev was elected as Chairman of the SCO Interbank Consortium Council for the next year (from October 2016 to October of 2017).
The Shanghai Cooperation Organization Interbank Consortium of SCO member states authorized state banks and credit institutions specializing in foreign economic activity was established on October 26, 2005. The Interbank Consortium incorporates State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, the Kazakhstan Development Bank, the China State Development Bank, RSK Bank (Kirgizia), State Savings Bank of the Republic of Tajikistan “Amonatbank” and the Uzbekistan National Bank for Foreign Economic Affairs. The Uzbekistan National Bank for Foreign Economic Affairs is to preside over the SCO Interbank Consortium in 2015-2016.
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