SCO Development Bank establishment discussed in Beijing
Chairman of National Bank G. Marchenko and Vice Minister of Finance D. Yergozhin attended the meeting on behalf of Kazakhstan.
The SCO Development Fund (Special Account) and SCO Development Bank establishment were discussed during the meeting. In addition, participants discussed global and regional economic situation, exchanged their views on the key issues of strengthening the financial bank cooperation within the SCO, minimizing the negative influence on the economy of its countries and instability of the world economy.
Heads of delegations noted the SCO members states take steps to respond to the risks and make efforts on rebuilding the market trust, financial stability provision and economic growth. They stressed it was necessary to enhance financial and banking cooperation in order to promote economic development of the SCO members states, deepen regional trade economic relations and increase region's role in the world economy.
The sides agreed to activate practical financial cooperation at the bilateral and multilateral levels, expand bilateral cooperation in the field of the national currency payment between the SCO members states in order to further trade development and boost region's investments and increase the ability to react to negative exogenous factors and possible risks.
Joint statement was adopted following the meeting.
