Photo of china.mfa.gov.by
MINSK, 31 March (BelTA) – On 30 March, diplomats of the Embassy of the Republic of Belarus in the People’s Republic of China took part in the first meeting of Shanghai Cooperation Organization (SCO) member states to discuss the establishment of the organization’s Development Bank, the Belarusian Embassy in China told BelTA.
Attending the event in Beijing were representatives of SCO member states, dialogue partners, and observers. The Belarusian delegation was headed by Finance Deputy Minister Pavel Lemekh.
Participants exchanged views on this Chinese initiative. The meeting emphasized the importance and necessity of creating a bank that would contribute to the successful development of the Shanghai Cooperation Organization.
Pavel Lemekh presented Belarus’ constructive proposals regarding the concept of the SCO Development Bank, aimed at ensuring equal and fair participation of all parties in the bank’s activities.
Earlier, Belarus supported the initiative to establish the SCO Development Bank. In June 2025, Chairman of the Board of the National Bank of Belarus Roman Golovchenko took part in the meeting of finance ministers and heads of central (national) banks of SCO member states held in China. Belarus participated in such a meeting for the first time as a full member. After the meeting, the head of the National Bank told journalists that two priority issues were financing joint projects within the SCO and increasing the share of settlements in national currencies. According to him, the key task is to create an SCO financial platform that would allow cross-border projects to be financed on terms more favorable than commercial ones, and Belarus intends to take an active part in consultations on this matter.
Belarus became a full member of the SCO in July 2024. On 1 September 2025, in Tianjin, China, the heads of state approved the SCO Development Strategy until 2035 and a package of other documents following the Organization’s 25th anniversary summit. Belarusian President Aleksandr Lukashenko also signed the summit’s decisions. The strategy defines the SCO’s goals and objectives, as well as the methods for achieving them through 2035. Based on the organization’s principles and values, the strategy outlines tasks related to strengthening mutual trust and good-neighborliness among member states, jointly countering security challenges and threats within the SCO space, and deepening practical cooperation in trade, economy, finance, investment, and other areas. With Belarus’ participation, a package of documents on cooperation in various areas was also adopted, including the 2026-2030 Program for Countering Extremist Ideology and the Roadmap for Implementing the Energy Cooperation Development Strategy until 2030.
Belarus is currently actively involved in various activities of the SCO.
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