Bishkek, March 30, 2026. /Kabar/. The first multilateral consultative meeting on the creation of the SCO Development Bank was held in Beijing, with Kyrgyzstan co-chairing the event. According to the Ministry of Finance, the delegation was led by Deputy Finance Minister of the Kyrgyz Republic Nurbek Akzholov, together with Deputy Finance Minister of the People's Republic of China Liao Min.
Representatives of all SCO member states and the Secretariat discussed the key parameters for the creation of the new financial institution and confirmed their readiness to continue consultations.
Political consensus on the creation of the bank was reached on September 1, 2025, at the 25th meeting of the SCO Heads of State Council in Tianjin, where the importance of accelerating the negotiation process was noted.
It is noted that the creation of the SCO Development Bank is aimed at supporting sustainable development, strengthening economic connectivity, and financing priority projects of the member countries. The institution is expected to facilitate infrastructure development, trade, and investment, as well as provide specialized financial instruments for individual countries.
Following the meeting, the participants agreed to continue coordinating the institutional, legal, and financial aspects of the future bank. Kyrgyzstan confirms its active commitment to participating in its development as an important tool for regional cooperation and economic growth.