CNA938 Rewind - SCO Summit: Significance of new Development Bank
The recent Shanghai Cooperation Organisation summit in Tianjin saw member countries collectively approve the establishment of a new Development Bank – a milestone achievement after a decade of discussions. The bank is designed to boost regional efficiency and foster social development across member states. Andrea Heng, Hairianto Diman and Rani Samtani assess its significance and how it will stack up against other banks like BRICS and the Asian Infrastructure Investment Bank (AIIB). They chat with Dr Flavia Zimmermann, Lecturer in Public Policy at the School of Social and Political Sciences, University of Melbourne.