The Interbank Consortium of the Shanghai Cooperation Organization

The Shanghai Cooperation Organization Interbank Consortium (SCO IBC) was established on October 26, 2005 under the decision made by the Council of Heads of SCO Member Stateson creating a mechanism to financially support and service investment projectsin the SCO member countries economic area.

The Interbank Consortium incorporates the following SCO member states’ authorized banks and credit institutions: State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, the Kazakhstan Development Bank, the China State Development Bank, RSK Bank (Kirgizia), State Savings Bank of the Republic of Tajikistan “Amonatbonk” and the Uzbekistan National Bank for Foreign Economic Affairs.

SCO IBC main lines of activity are to organize funding for investment projects, enhance interaction with financial institutions of observer states and partners in the framework of SCO dialogue, cooperate with leading economic institutions operating in the SCO area (the SCO Business Council, the Eurasian Development Bank),exchange experience and cooperate in personnel training.