MOSCOW, November 18. /TASS/. Consultations on the establishment of the Shanghai Cooperation Organization (SCO) Development Bank, as well as mutual recognition of credit ratings and commodity indicator systems are on the SCO's agenda, Russian President Vladimir Putin said.

"At the initiative of the Russian side and with the support of partners within the Shanghai Cooperation Organization, steps are being taken to expand the payment, settlement and depository infrastructure. Consultations on the establishment of the future SCO development bank, mutual recognition of credit ratings and commodity indicator systems are on the agenda," Putin said during a meeting in the Kremlin with the heads of the delegations who participated in the Council of heads of government of the SCO countries.

Stable and uninterrupted payment channels are becoming vital, the president said.

"This is especially relevant in the current volatile economic environment amid turbulence on the global markets, unilateral sanctions and tariff restrictions, and wars," he said.