SCO finance ministers to coordinate special account to fund project.

BEIJING, October 14 (Itar-Tass) - The finance ministers and the
governors of the Central Banks of the Shanghai Cooperation Organization (SCO) will meet in Almaty, Kazakhstan, before the end of this year to consider a special SCO account to fund joint projects, Russian Deputy Foreign Minister Alexei Borodavkin told reporters on Wednesday.

"One can call it a special account or special fund, necessary for
funding projects. Such projects require resources, because so far, the SCO
budget only funds the activity of its secretariat, with projects getting
'ad hoc' funding," Borodavkin explained.
Prior to the meeting, SCO specialists will gather together to
determine the "size of contributions, the management of the special
account and the projects that might qualify for funding."
Most likely, the projects will include the development of
infrastructure, power generation and telecommunication projects - which
are part of the SCO cooperation program, the Russian deputy foreign
minister said.
The SCO finance ministers and Central Banks' governors will also
consider joint measures to overcome the financial economic crisis and a
range or issues concerning the use of "national currencies in
settlements," according to Borodavkin.
-0-myz/usn