Dmitry Medvedev: The work of new SCO financial institutions is to be regulated

Russia will continue to pay special attention to cooperation with neighbouring countries in 2015, Russian Prime Minister Dmitry Medvedev said at a plenary session of the VI Gaidar Forum in Moscow.

He recalled that Russia will host the BRICS and SCO summits this year. "Not only will we have to establish political cooperation (it has already been established and is effective), but we will also have to streamline the work of the newly created financial institutions - the BRICS Development Bank and a billion currency reserve pool whose reserves total $200 billion," Dmitry Medvedev said, adding that the Shanghai Cooperation Organisation is also developing tools to finance promising projects. "These are multilateral instruments for joint financing, which allow for implementing new economic projects," he said.