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China-led SCO bloc looks to fast-track plan for new bank, rival Western lenders

  • Posted on May 29, 2026
  • By South China Morning Post
  • 0 Views
  • 1 min read
China-led SCO bloc looks to fast-track plan for new bank, rival Western lenders
China-led SCO bloc looks to fast-track plan for new bank, rival Western lenders

Member states seek more financial autonomy and localised credit by advancing an effort to fund regional growth using their national currencies, not the US dollar.
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Author
South China Morning Post

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