The SCO development bank creation will be discussed by the finance ministers in Bishkek this autumn

Almaty. May 27. Silkroadnews – The issue of the bank for development of the Shanghai Cooperation Organization (SCO) will be discussed by the finance ministers of the member states at the meeting in Bishkek this autumn, Kazakhstan’s minister of foreign affairs Yerlan Idrissov says, KazTAG reports.

“There are many plans made for this direction (economic and trade – Silkroadnews) development within the SCO cooperation. It remains for us to carry out serious work on the creation of financial mechanisms to ensure the economic and trade activities, investment activities in the framework of the SCO. We are talking about creation of the SCO Development bank,” Y. Idrissov said at the third meeting of heads of supreme audit institutions of the SCO member states in Astana on Friday.

According to him, “it is hard to talk about the success of economic activity without a reliable financial security”.
“So now we increase focus on the creation of financial mechanisms, first of all, we search for consensus on the SCO Development bank. This will be a subject of the finance ministers meeting to be held in Bishkek this September,” he added.