DUSHANBE, August 2, 2013, Asia-Plus -- The issue of establishment of the Shanghai Cooperation Organization (SCO) Development Bank was discussed here on July 31 at a meeting of the National Bank of Tajikistan (NBT) Chairman Abdujabbor Shirinov with China’s Ambassador to Tajikistan Fan Xianrong, according to the NBT press center.

We will recall that decision to establish the SCO Development Bank was made at a meeting of SCO heads of government that took place in Bishkek, Kyrgyzstan on December 5, 2012.  The institution is expected to allow members to finance future joint projects.  The SCO, which comprises Russia, China, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan, will later determine the specifics of the bank’s work. When the idea was discussed in 2011, Tajikistan suggested that that such a bank should not only finance large infrastructure projects, but also support weaker regional economies.

Meanwhile, Shirinov and Fan also discussed issues related to opening branches of Chinese banks in Tajikistan and the possibility of use of the national currencies of the two countries while settling the mutual accounts.

The sides also discussed the issue of training or personnel for Tajik banking system in China, the press center said.