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Kyrgyzstan in favor of creating SCO Bank — President Atambayev

July 06, 2015, 14:51 UTC+3 BISHKEK
"We propose the Bank to be headquartered in Bishkek, because we already have large experience in the banking sector," Kyrgyzstan President said
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© EPA/SERGEI ILNITSKY

BISHKEK, July 6. /TASS/. Kyrgyzstan is in favor of creating the Shanghai Cooperation Organisation (SCO) Bank, Kyrgyzstan President Almazbek Atambayev said in an interview with TASS.

According to him, Kyrgyzstan supports creating "an efficient financial mechanism in the form of a separate SCO Bank." "We propose the Bank to be headquartered in Bishkek, because we already have large experience in the banking sector," Atambayev said. Thus, Kyrgyzstan is ready to hold a meeting of finance ministers and heads of national central banks of SCO countries, so that they "could discuss the questions connected to the bank’s creation."

"There is a program of a long-term cooperation in trade and economic sphere and there is a list of events, which the SCO countries and observers hold together," the President said explaining his initiative. "We understand that certain projects need, first of all, financial aid, as before the project is implemented it needs to be inspected, a feasibility study needs to be prepared," he said.

The BRICS Summit (Brazil, Russia, India, China, South Africa) and SCO Summit will be held in Ufa on July 8-10, 2015.

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