Dauren Kengbeil participated in the first consultative meeting on the establishment of the SCO Development Bank

Vice Minister of Finance of Kazakhstan, Dauren Kengbeil, participated in the first consultative meeting on the establishment of the SCO Development Bank.

In his remarks, Dauren Kengbeil expressed support for the initiative to establish the SCO Development Bank, emphasizing the importance of financing projects in areas such as the implementation of digital technologies, artificial intelligence, and the development of water management infrastructure.

On the sidelines of the event, Dauren Kengbeil held bilateral meetings with representatives of the Ministries of Finance of the People's Republic of China and the Russian Federation, as well as with the Export-Import Bank of China.

During the meeting with Vice Minister of Finance of the PRC, Liao Min, the parties exchanged views on the establishment of the SCO Development Bank, discussed the development of bilateral financial cooperation, and agreed to cooperate on the issuance of panda bonds inthe Chinese market.

With Deputy Minister of Finance of the Russian Federation, Ivan Chebeskov, the current status of the bilateral cooperation agenda was discussed, including issues related to the activities of regional financialinstitutions.

Key issues related to the financing and implementation of investment projects in Kazakhstan were discussed during negotiations with Vice President of the Export-Import Bank of China, Chen Bin. These included the construction of a water pipeline from the K.I. Satpayev Canal to Astana with Pumping and Filtration Station No. 4, the reconstruction of the "Center–West" corridor (Astana–Irgiz section), and the modernization of Kazakhstan's border checkpoints.

Following the meetings, the parties expressed confidence in the successful implementation of joint projects, further development of partnership, and achievement of mutually beneficial goals.