The meeting of the Council of the SCO Interbank Association will be held in Tashkent

At the meeting of the SCO IBC in Tashkent, the issue of signing documents coordinating measures to overcome the crisis and improving project financing mechanisms will be considered.

On August 23, in Tashkent, under the chairmanship of the JSC “National Bank for Foreign Economic Affairs of the Republic of Uzbekistan”, the XVIII meeting of the Council of the Interbank Association of the Shanghai Cooperation Organization (IBC SCO) will be held.

The National Bank was elected as the Chairman of the IBC SCO for the period 2021-2022. during the XVII meeting of the Association Council, held on September 16, 2021 in Dushanbe.

The meeting of the Association will be attended by the heads of the leading development institutions of the SCO member states (China, India, Russia, Pakistan, Kazakhstan, Kyrgyzstan and Tajikistan), which are IBO member banks, as well as representatives of the SCO Secretariat and partner banks of the SCO IBO (Mongolia, Belarus). and the Eurasian Development Bank), authorized ministries and departments of Uzbekistan.

The agenda of the meeting will focus on the issue of signing documents initiated by the National Bank during the meeting of experts and coordinators held in Bukhara on May 16:

1. Plan of joint actions of banks – members 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).
2. Framework principles of interaction and cooperation of banks – members of the Interbank Association of the Shanghai Cooperation Organization in the financial sector.

The adoption of these documents will help banks coordinate measures to find a way out of the crisis caused by the pandemic and the instability of the global economy, paying special attention to investing in strategically important projects that provide for the development of innovation, high technology and the digital economy, improving project financing mechanisms, as well as helping to strengthen the role of IBO in the SCO space.

During the meeting, it is also planned to discuss the prospects for expanding cooperation between banks in the investment and economic spheres to improve their mutually beneficial partnership and create favorable conditions for stimulating the growth of mutual trade and investment of the SCO member states, as well as increasing the personnel potential of IBO member banks.