Development Bank of Kazakhstan assumes presidency of SCO IBC

27.04.23 16:11
/KASE, April 27, 2023/ – Development Bank of Kazakhstan JSC (Astana), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated April 26, 2023: quote On April 26, 2023, the XIX meeting of the Council of the Shanghai Cooperation Organization Interbank Consortium (SCO IBC) was held in India. The event was attended by SCO IBC member banks from India, Kazakhstan, China, Kyrgyzstan, Pakistan, Russia, Tajikistan and Uzbekistan. The meeting of the IBC Council was chaired by India Infrastructure Finance Company Limited (hereinafter - IIFCL). The member banks discussed the need to further develop the potential of the SCO IBC with an emphasis on the implementation of the joint projects in priority sectors of the economy, including in the field of export–oriented industries, financing infrastructure projects, and the development of digital transformation of national economies. DBK held a number of the bilateral meetings with the representatives of development institutions and the strategic banks of the participating states, during which the heads of financial institutions discussed the practical aspects of attracting investment in the manufacturing industry, improving and diversifying trade and investment cooperation. By a common decision of consortium's participants, the chairmanship of the XX meeting of the SCO IBC Council from October 26, 2023 to October 25, 2024 was transferred to Development Bank of Kazakhstan. unquote The complete press release is available on – [2023-04-27]