Importance The article overviews the history and structure of the Shanghai Cooperation Organization (SCO), points out project management methods that are used to effectuate the SCO activities. Drawing upon the analysis, we evaluate the most efficient ways of implementing the project for setting up the Development Bank. Objectives The research pursues identifying the most probable scenario of setting up the SCO Bank. This objective becomes attainable by addressing the following interim objectives: examination of the SCO institutionalization history; structuring the SCO governing bodies; systematizing the existing alternatives of establishing the Development Bank; identifying the most appropriate approach to incorporating the SCO Bank. Methods Relying upon observations, interviews, situation modeling and systems analysis, we reviewed various stances on the SCO, determined various initiatives for setting up the SCO financial institutions, and demonstrated the most probable way of establishing the SCO Bank. Results The findings show that the SCO Development Bank is most likely to be incorporated on the basis of the Eurasian Development Bank. Conclusions and Relevance We conclude that, currently it would be more reasonable for the SCO to use the existing Eurasian Development Bank for setting up its own financial institution, since this method will secure the controlling portfolio of shares for Russia in making decisions on the Bank's operations and reduce incorporation costs.
Keywords: Shanghai Cooperation Organization, Development Bank, project management, project management methods
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