PANAJI, April 26 (PTI): Shanghai Cooperation Organisation Interbank Consortium (SCO IBC) is an important instrument in improving economic cooperation between the member countries, Kazakhstan said on Wednesday after taking over the rotational presidency of the SCO IBC for 2023-24.
India on Wednesday handed over the presidency of SCO IBC to the Development Bank of Kazakhstan.
“We have decided to deepen the cooperation and ties between the member countries and continue doing the work which has been done in the past,” Nurlan Baibazarov, Chairman, Development Bank of Kazakhstan told reporters after taking over the presidency.
He said that IBC is an important instrument in improving economic cooperation between the SCO member countries and banking association.
“We will put in all efforts in future to strengthen our ties and to expand and increase the cooperation so that our countries gain,” Baibazarov added.
All the member countries, including China, attended the 19th SCO IBC meeting held in South Goa on Wednesday, while Pakistan joined online for the meeting.
“Pakistan was represented by Habib Bank Limited, who joined the meeting online,” said Padmanabhan Raja Jaishankar, Managing Director of India Infrastructure Finance Company Limited.
He said that the Pakistan representatives could not join in person due to the logistical issues.
“But they attended the meeting,” he added.
