Representatives from the Ministry of Economy and Finance of Uzbekistan and China’s Ministry of Finance convened virtually to discuss the creation of a Shanghai Cooperation Organization (SCO) Development Bank, according to Trend.
The meeting brought together Shukhrat Matkarimov, Deputy Director of Uzbekistan’s Department of International Relations, and Zhang Bo, Deputy General Director of China’s Department of International Economic and Financial Cooperation. The two sides conducted an in-depth review of the bank’s proposed structure, governance framework, operational focus, and funding strategies.
Uzbekistan emphasized the strategic importance of the initiative, viewing the future SCO Development Bank as a catalyst for deepening investment cooperation, financing regional infrastructure projects, and accelerating sustainable economic development across member states.
Both parties agreed to continue technical consultations at the ministerial and expert levels to refine the bank’s framework and move the project forward.
This development comes amid deepening economic ties between Uzbekistan and China. Bilateral trade exceeded $13 billion last year, with both governments expressing strong confidence in reaching the $20 billion trade target set by their national leaders.
