A series of bilateral agreements were signed at the Third session of the Council of the Shanghai Cooperation Organization (SCO) Interbank Consortium, which opened in the Kyrgyz capital on 15 August.

The deals were approved by chief executives of the OJSC Settlement and Savings Company (Kyrgyzstan), the state corporation Bank for Development and Foreign Economic Activity Vneshekonombank (Russia), the National Bank for Foreign Economic Activity of Uzbekistan and the Development Bank of Kazakhstan, a report of the SCO website said.

The three agreements were signed between the Vneshekonombank and the OJSC SSC, the National Bank of Uzbekistan and the Development Bank of Kazakhstan respectively. They provide collaboration on sharing experience in the field of strategic partnership on the international financial market and development of long-term cooperation in the field of financial investment.

During a second day (16 August) of the Council session an agreement will be signed between the SCO Interbank Consortium and the Business Council. The Vneshekonombank chief Vladimir Dmitriev of the Interbank Consortium and the chairman Dmitry Mezentsev of the Business Council will put their signatures on the document.

The agreement sets a framework for long-term partnership between the two leading economic institutions of the Shanghai Cooperation Organisation and provides creation of a single data bank on investment projects, recommended for joint implementation in the SCO framework.