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Sadyr Japarov urges to speed up establishment of SCO Bank, Development Fund

Acting President, Prime Minister of Kyrgyzstan Sadyr Japarov, speaking at a meeting of the Heads of the SCO member states in videoconference format, thanked China for its help in the fight against coronavirus infection.

He also said that overcoming the socio-economic consequences of the pandemic and the effective use of the entire potential of the SCO were seen as an important task, in connection with which it was necessary to focus on strengthening cooperation in the trade and economic sphere, including development of the digital economy, joint implementation of large economic projects.

«The pandemic has shown the importance of development of transport and logistics infrastructure on a regional scale. The construction of China — Kyrgyzstan — Uzbekistan railway in the future will connect our region with the states of the Middle East and Europe and will contribute to the growth of mutual trade. We also consider it important to develop concrete measures for the practical implementation of the agreement between the governments of the SCO member states on creation of favorable conditions for international road transport,» Sadyr Japarov stressed.

In order to ensure financing of economic projects, it is necessary to intensify work on the creation of the SCO Development Bank and the SCO Development Fund.

Sadyr Japarov

He added that within the SCO, a trustworthy regulatory framework has been created for cooperation in all key areas of interaction, but nevertheless there are still few concrete results, especially in the trade and economic sphere. And this circumstance, according to Sadyr Japarov, predetermines the expediency of creation of a financial basis.

«In this regard, it is necessary to intensify work through the ministries of finance so that a concrete decision can be made by the 20th anniversary of the SCO,» Sadyr Japarov said.

He added that in the current difficult time in the world, the peoples of the organization needed unifying factors.

«In this regard, we fully support the popularization of the principles of the «Shanghai spirit» in international relations. We consider it important to promote the creative initiatives «Community of the Common Destiny of Mankind», «One Belt, One Road», «Great Eurasian Partnership». They are aimed at joint development and mutually beneficial cooperation,» Sadyr Japarov said.

In conclusion, acting President expressed gratitude to the Russian side for the successful organization of the meeting, adding that the Tajik side, as the next presiding country in the SCO, can count on the full assistance of the Kyrgyz side.

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