Tashkent hosted the XVIII Meeting of the Council of the Interbank Association of the Shanghai Cooperation Organization under the chairmanship of the JSC National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU). The meeting was attended by the heads of leading development institutions of the SCO Member States (China, India, Pakistan, Russia, Kazakhstan, Kyrgyzstan and Tajikistan), SCO observer states (Mongolia, Belarus and the Eurasian Development Bank). At the meeting, 2 strategically important documents were developed – the Joint Action Plan of the member banks of the Interbank Association of the Shanghai Cooperation Organization to support and develop intra-regional economic cooperation of the SCO in the medium term – 2022-2027 and the Framework Principles for Interaction and Cooperation of the Member Banks of the Interbank Association of the SCO in the financial sector.
The documents will help improve the activities of the SCO IBA, providing favorable conditions for stimulating the growth of trade turnover and investment interaction between member banks in the implementation of promising joint infrastructure projects in the SCO space, as well as the development of industrial cooperation between the SCO member states.
Following the event, the Council approved the documents and their further inclusion in the Samarkand Declaration, which will be adopted following the Summit of the SCO Council of Heads of State on September 16. The chairmanship of the SCO IBA Council for 2022-2023 will be transferred to the Indian Infrastructure Finance Company from October this year.- Kabar