Banking Sector: SCO Development Bank meeting

Deputy Minister for Finance and Revenue Daw Than Than Lin, led a Myanmar delegation to the third Deputy Minister-level coordination meeting on the establishment of the Shanghai Cooperation Organization Development Bank (SCOB), held in Bishkek of Kyrgyzstan on 28 May.

The meeting was co-chaired by Deputy Finance Ministers of China and Kyrgyzstan. Participants discussed the draft memorandum of understanding for establishing the bank, including its policy objectives, capital contributions, membership, voting rights, governance structure, and future work plan.

On 29 May, the delegation also discussed progress reports to be submitted to the SCO Finance Ministers and Central Bank Governors meeting. The participants reviewed and agreed on the progress of negotiations. The Myanmar delegation returned to Yangon on 30 May.