Uzbek Vice PM: Establishment of SCO Bank to improve Organization's financial component

15:44, 3 November 2016

BISHKEK. KAZINFORM The establishment of the SCO Bank will let expand financial component of the organization, according to First Deputy Prime Minister of Uzbekistan Rustam Azimov, who said it during the Summit of the SCO Prime Ministers' Council in Bishkek, Kyrgyzstan.

In his opinion, global economy experiences structural imbalance, financial activity decline and capital outflow. However, SCO countries possess enough force and potential to implement the tasks set.

“We stand for development of trade-economic ties and boosting market demand. We have already taken some steps in this issue and now we search for new projects. Financial component is a weak spot in our organization. In this view, Uzbekistan backs the initiative on establishment of the SCO Bank, but it must become a new financial institution,” noted Azimov.

Bishkek is hosting today the 15^th Jubilee Summit of the SCO Prime Ministers Council. Kazakhstan is presiding in the SCO now. On June 8-9, 2017 Astana is planning to host the SCO Heads of State Summit.

Diplomacy SCO Government of Kazakhstan Integration Foreign policy Government

Темиргалиева Арайлым

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