22/08 14:17
 

Negotiations on creation of the SCO Bank underway – Chinese Foreign Ministry

Beijing, August 22 / Kabar /. Negotiations on creation of the Bank of the Shanghai Cooperation Organization are going on, said Zhang Hanhuey, director of the Department for European and Central Asian Countries of the Ministry of Foreign Affairs of China at a meeting in Beijing with journalists from Central Asia. 

He also said that the parties are discussing the issue, but the decision will be taken by all members of the SCO.  

The head of the department also said that the creation of the Bank of the SCO will allow to conduct a single fiscal policy, to take measures to overcome financial and economic crisis, to finance major projects. 

Note that the creation of the Bank of the SCO and the special account of the organization was initiated by Kazakhstan in 2012 at a meeting of the Council of Prime Ministers of the SCO Member States in Bishkek.
 

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