Additional sources of financing for the economies and infrastructure projects of the SCO member states and partner countries were discussed on April 29–30, 2026 in the city of Xi’an (PRC).
The event was attended by deputy finance ministers of the SCO member states and partner countries, as well as representatives of the SCO Secretariat. Our country was represented by the Vice Minister of Finance of the Republic of Kazakhstan Dauren Kenbeil, who took part in the second consultative meeting on the creation of the SCO Development Bank.
During the meeting, key parameters of the future financial organization were discussed, including priority areas of financing and capitalization mechanisms.
In his speech, Dauren Kenbeil noted that the SCO Development Bank should become an institution focused on supporting new generation technologies. Among the priorities are projects in the field of artificial intelligence, biotechnology, as well as the development of tools for the transfer of industrial and “green” technologies, including from China.
Special attention is paid to issues of non-sovereign financing, the formation of authorized capital using local currencies and alternative financial instruments.
Following the meeting, the parties agreed to continue consultations at a high level. The next meeting is scheduled for May 28–29, 2026 in Bishkek.
As part of the event, a meeting was also held with the Deputy Minister of Finance of the People’s Republic of China Liao Min. The final procedures for issuing panda bonds on the Chinese market were discussed, as well as issues of financing the project for the construction of a pumping and filtration station in the city of Astana.
The implementation of these initiatives will allow:
- expand Kazakhstan’s access to new sources of financing, including the large Chinese market and the future SCO Development Bank;
- create additional business opportunities in projects in the field of industry, innovation and green technologies;
- diversify sources of capital and accelerate the technological development of the economy.
Previously, President of Kazakhstan Kassym-Jomart Tokayev statedthat Kazakhstan will take an active part in the activities of the SCO, an authoritative and successful Eurasian organization with a multifaceted constructive agenda, including security issues and confidence-building measures.
