“Firstly, we gain access to long-term investment financing without regard to political or other considerations. The bank will become a reliable channel for executing payments, primarily in national currencies. For us, this is a very important matter,” Vladislav Tatarinovich said.
According to him, Belarusian enterprises will be able not only to engage in trade and economic cooperation within the SCO member states but also to find new partners and implement new mutually beneficial projects.
For the Finance Ministry, for the development of interaction among SCO member states as a whole, this is an authoritative platform that will provide real opportunities for development.
The minister recalled that the decision to set up a specialized institution within the SCO framework was made by the heads of the SCO member states in Tianjin, China, in September 2025. Belarus is an active participant in the process of establishing all the necessary conditions, the legal frameworks, the charter, and the mandate of the Development Bank. the third round of negotiations took place at the end of May.
“We hope that the SCO Development Bank, which is planned to begin operations in 2028, will become a universal multilateral bank that operates outside of politics, without regard to whether any restrictions are imposed on member states by other financial institutions, and its mandate will be very broad and unique,” Vladislav Tatarinovich said.
As it has been reported, the bill on ratification of the protocol on introducing amendments to the Agreement on the Procedure for the Formation and Execution of the Budget of the Shanghai Cooperation Organization (SCO) of 1 December 2017 has cleared its first reading.
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