Chinese State Councilor Li Keqiang expressed support for the initiative put forth by Kyrgyz Prime Minister Akylbek Zhaparov for the expedited establishment of a development bank within the Shanghai Cooperation Organization (SCO) at the meeting of heads of government of SCO member countries, Economist.kg reports.
Li Keqiang emphasized the importance of accelerating the economic revival of the region by collaborating to create a secure and efficient transportation system. He also urged the swift establishment of the organization's investment institution.
"It is important to advance the work of establishing the SCO Development Bank to meet the development financing needs of member states," stated Li Keqiang.
Previously, in his address, Kyrgyz Prime Minister Akylbek Japarov reminded the heads of government from SCO member countries of their desire to create a common bank and a development fund for the organization.
Addressing the Central Asian heads of government, Zhaparov proposed the creation of a compensatory mechanism for the use of water and energy resources. He advocated for measures to modernize water management infrastructure and the implementation of projects in irrigation and energy to ensure the efficient use of water and land resources in the region, as well as to provide low-cost and environmentally clean electricity.
"Kyrgyzstan proposes and promotes the creation of a mutually beneficial compensatory mechanism for the integrated use of water and energy resources in Central Asia," he stated.
Meetings of the heads of government of the SCO, CIS, and EAEU are taking place in Bishkek on October 26-27, 2023.
CentralasianLIGHT.org
October 26, 2023