SCO Summit in Bishkek to discuss establishment of SCO Development Bank

ASTANA. KAZINFORM The issues of establishment of the SCO Development Bank will be discussed in September at a meeting of the ministers of finance in Bishkek, according to Foreign Affairs Minister of Kazakhstan Erlan Idrissov.

“The SCO’s trade and economic dimension is very important and promising for Kazakhstan, since there are many plans on development of this dimension within the Organization. We have to carry out quite serious work on creating the mechanisms to ensure economic, trade and investment activity within the SCO. The point at issue is the SCO Development Bank,” noted Idrissov at the 3rd meeting of the Heads of the SCO Supreme Financial Control Authorities in Astana.

According to Idrissov, the meeting of the ministers of finance will be devoted to discussion of the SCO Development Bank establishment, "as we believe successful activity of the Organization depends on reliable financial background."

He also reminded that the forthcoming summit of the SCO in Tashkent will take a historical decision on admission of new member countries.

“We expect the start of the process of admission of India and Pakistan to the Organization. The agenda includes also the issue of Iran, which must be adjusted. In whole, we believe that the Summit in Tashkent will outline important decisions on practical expansion of our Organization,” he pointed out.

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