Bishkek, May 29, 2026. /Kabar/. Last year, heads of SCO member states announced the need to create SCO Development Bank during the meeting, and financiers and bankers have already begun practical steps. Deputy Finance Minister Nurbek Akzholov told journalists.
He noted that Kyrgyzstan is a member of many multilateral financial institutions, such as the World Bank, the Asian Development Bank, and others.
"The SCO Development Bank will also be a banking institution, with the potential to implement large-scale transnational projects within the organization. This will, accordingly, enable us to improve infrastructure by providing more favorable financing. A temporary secretariat has been established to work on establishing the SCO Development Bank. Three-year roadmap has been created. The third consultation meeting was held yesterday. This work will continue for two years. The primary focus is on the management mandate and operational procedures. Currently, only the bank's structure is being discussed; the size of the authorized capital has not yet been discussed," he stated.
He also informed that the main goal for Kyrgyzstan is to develop financial cooperation within the SCO through specific mechanisms and practical tools.
“In this regard, the establishment of SCO development bank, promotion of green financing, exchange of experience in public debt management, and digitalization of public finances will play important role,” he said.
As a reminder, the meeting of finance ministers and central bank governors of SCO member states took place in Bishkek today.