“Unfortunately, one of the weaknesses of the organization is inexistence of efficient multilateral mechanism of financial support of investment activities within the SCO,” he said.

Uzbekistan supports creation of the SCO Development Bank, being one of important factors for development of investment cooperation, Azimov said.

Rustam Azimov underlined that the bank should be created as absolute new independent financial institute.

The bank should focus on realization of investment projects, ensuring structural reforms and economic development of the member-states of the SCO, he said.

He added that the headquarters of the SCO Development Bank should be place in the country, which is the largest donor of the financial institutions.

Azimov said: “We also support more active economic, investment and cultural-humanitarian cooperation with the observer states and partners, strengthening interaction and attracting their huge potential in the sphere of joint activities within the SCO.”