OREANDA-NEWS. June 09, 2012. Chairman of State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ Vladimir Dmitriev participated in the 8th session of the SCO Interbank Consortium Council timed to coincide with a meeting of the SCO Council of Head of States to be held in Beijing (the People’s Republic of China) on June 7, 2012.

In the course of the session its participants discussed the Consortium’s day-today activity and long-term objectives. The main themes at issue were implementation of multilateral investment projects, cooperation in servicing and enhancing real economy, environment protection, introducing principles of sustainable development and exchanging experience in managing credit risks.

Heads of banks of SCO Interbank Consortium signed an agreement on cooperation in servicing and enhancing real economy. The agreement is a road map for implementing the Strategy for SCO interbank Consortium’s for a period of 2012-2018 approved in November of 2011 in Saint Petersburg. The agreement identifies the following lines of activity that are most important for funding: manufacturing of high-tech and innovative equipment, energy saving and environment protection, modernization of agriculture and agro-industrial complex, small and medium-sized enterprises and etc.

They also signed an agreement on cooperation in environment protection and energy saving. Interbank Consortium member banks confirmed their readiness to encourage socio-economic development of SCO states through rational utilization of resources and seek to ensure energy security as well as upgrade corporate social responsibility systems and advance principles of sustainable development among all interested parties.

In the course of the session a decision was made to grant OJSC Savings Bank Belarusbank a status of SCO Interbank Consortium member bank. Belarusbank will become the country’s first financial institution to have received a status of SCO Interbank Consortium member bank. This will make it possible for the authorized financial institution of the Belarus Republic to participate in the SCO interbank Consortium’s practical activity.

OJSC RSK Bank (the Kyrgyz Republic) was elected as SCO Interbank Consortium Chairman for 2012-2013.