SCO Development Bank will start operating soon - SCO and BRICS Business Forum in Ufa

UFA, 2 December 2016. /Bashinform News Agency, Galina Bakhshieva/. In the near future the Development Bank of the Shanghai Cooperation Organization will be established. This was stated by the former Prime Minister of the Kyrgyz Republic Djoomart Otorbaev at the 2nd Forum of Small Business of the SCO and BRICS Regions in Ufa.

"Kyrgyzstan supports the establishment of the SCO Development Bank", Djoomart Otorbaev said at a briefing. “Access to finance is a major issue for businessmen. Given that the Development Bank is a non-profit organization that promotes multilateral cooperation. It should be definitely created. All countries, mostly large countries are ready for capitalization. The SCO Development Bank will be established in the near future, and we, as a relatively small country, are interested in receiving resources of course".

As Bashinform News Agency reported, the 2nd Forum of Small Business of the SCO and BRICS Regions will last in Ufa until December 2.

Its main objective is development and strengthening of ties between Russian and foreign entrepreneurs, as well as formation of inter-regional projects support mechanisms. The forum brought together more than 900 participants from over 30 regions of Russia and 15 countries, including Egypt, India, China, South Africa, Czech Republic, Kazakhstan and Belarus.