CIS financial body offers to set up Caspian Development Bank
The Financial and Banking Council of CIS has offered to create Caspian Development Bank.
"The Caspian region has great potential, so we need financial tools to revitalize the area. The most powerful unit of finance and economy is concentrated in this region, and we need to untie the knot quietly," the coordinating council of CIS Financial and Banking Council Anatoly Kazakov said at the Fourth Baku International Banking Conference of CIS.
"We are extremely concerned about the very low turnover among Caspian states. If all countries have moved to the stage of entering the Customs Union and accession to the Common Economic Space, then the turnover would have increased significantly," Kazakov said.
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