An initiative to establish an SCO Development Bank was put forward at the Shanghai Cooperation Organisation summit in Bishkek.
Belarusian President Alexander Lukashenko immediately supported the proposal. According to Lukashenko, such a bank would strengthen economic ties among SCO countries and enhance the region’s financial sovereignty.
Lukashenko also noted that joint economic initiatives within the SCO should produce tangible results and improve people’s well-being. The Belarusian leader supported increasing the share of national currencies in settlements between member states. In his view, this would help protect payment systems from external threats.
Lukashenko also proposed accelerating the creation of a unified, open and secure digital space within the SCO.
Kazakhstan, for its part, supported the initiative to establish an SCO Development Bank and proposed locating its headquarters in Kazakhstan.
President Kassym-Jomart Tokayev said Kazakhstan supports China’s initiative to establish the bank. According to him, if the SCO member states reach a common agreement, Kazakhstan is ready to host the headquarters of the new financial institution.
“Kazakhstan supports China’s initiative to establish the SCO Development Bank. The resources of the financial institution should primarily be directed toward infrastructure, technology and industrial projects. If the member states reach a common agreement, Kazakhstan is ready to host this institution and its headquarters on its territory,” Kassym-Jomart Tokayev said.
The President noted that it would be appropriate to direct the Development Bank’s resources primarily toward infrastructure, technology and industrial projects.
According to the organising committee, a total of 28 documents were signed following the Shanghai Cooperation Organisation summit in Bishkek.
Among the documents are the Bishkek Declaration dedicated to the 25th anniversary of the SCO; a programme to combat drug addiction and counter the spread of synthetic drugs and their precursors through 2032; an action plan for international information security for 2026–2028; a roadmap for developing ports and logistics centres of SCO countries for 2026–2030; and a declaration on nuclear and physical nuclear security.
In addition, the Pakistani city of Lahore was declared the SCO’s tourism and cultural capital for 2026–2027.
