Story thread · 46 reports / 23 sources

India joins talks to set up SCO Bank

economictimes.indiatimes.com · 12dShare

New Delhi: India is participating in negotiations to create a SCO Development Bank, said people familiar with the matter, underlining that the proposed financial institution secured the backing of all member states of the Shanghai Cooperation Organisation (SCO) at their just-concluded summit in Bishkek.The SCO member states are currently in discussions for creating the bank's governance structure and capital, the people said.The creation of the new bank also figured on the agenda when finance minister Nirmala Sitharaman met her Russian counterpart Anton Siluanov on the margins of the G20 Finance Ministers' meeting in the US earlier this week.Building on initial agreements first pushed forward at the Tianjin SCO Summit, the Bishkek Summit declaration noted that member states agreed to finish consultations on the founding documents as quickly as possible. Host Kyrgyzstan has expressed interest in hosting the bank.Russian President Vladimir Putin Monday called on SCO members to establish

First report: SCO Leaders Sign Bishkek Declaration Condemning US Strikes on Iran, Back Khamenei Condolences — newscord.org, 15d