On 25 June 2024, the Development Bank of Kazakhstan chaired the 20th meeting of the Board of the Shanghai Cooperation Organisation’s Interbank Consortium.
SCO Secretary-General Zhang Ming greeted the meeting particiants via videoconference and noted the importance of strengthening the role of the SCO Interbank Consortium as a tool of financial-banking and investment interaction. He expressed hope that the consortium would actively utilise its advantages and potential for creating effective mechanisms for financing project activities within the SCO.
During the event, the heads of the consortium’s member banks exchanged opinions on topical aspects of expanded cooperation between leading financial-banking organisations and development institutions in the SCO region. The SCO Secretariat was presented by advisor Mr.Baytasov.
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Following the meeting, the heads of delegations signed a memorandum on cooperation in the field of environmental, social, governance (ESG) finance.
Reference note:
The SCO Interbank Consortium was established in 2005 under an agreement on interbank cooperation within the SCO framework. The mechanism primarily aims to finance investment projects, supported by the governments of SCO member states, and to provide banking support for them.