Russia is waiting for concrete proposals on the creation of a joint SCO investment fund
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Special Representative of the President of the Russian Federation for the Shanghai Cooperation Organization (SCO) Bakhtiyor Khakimov called the idea of the President of Kazakhstan Kassym-Jomart Tokayev to create a joint investment fund of the organization interesting, adding that Russia is waiting for specific proposals.
“We are waiting for relevant proposals, specific already, because the idea is interesting, of course,” he told reporters (quote according to TASS).
On July 4, Tokayev, at a meeting of the Council of Heads of State of the SCO Member States, said that the association had not been able to implement a single major economic project in the 20 years of its existence. “An obvious factor is the lack of mechanisms for financial support of project activities,” he said.
In this regard, Tokayev suggested that the council consider the possibility of creating a “joint investment fund and make proposals on this important project.” In addition, he proposed to develop the energy strategy of the organization for the next summit, which will be held in Astana in 2024.
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