[1] China has sought to use the platform to push for more cooperation under its Belt and Road Initiative.
[2] At the 2018 SCO summit in Qingdao, China's paramount leader Xi Jinping pledged to set up a 30 billion yuan ($4.69 billion) for a special lending facility within the framework of the SCO Interbank Consortium.
[citation needed] The SCO Development Bank is a proposed multilateral financial institution.
Russia however has shown skepticism to the bank and in general has prioritized security cooperation within the SCO rather than economic projects.
Russia has alternatively suggested to China to buy a stake in the Russian led Eurasian Development Bank.