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Democratising development finance
Orissa POST
|September 18, 2025
Among several tangible outcomes, symbolic or strategic, from the 25th Shanghai Cooperation Organisation (SCO) Summit in Tianjin, China, the agreement to set up a new multilateral development bank (MDB) is a calculative political decision.
While the Summit has successfully invoked world attention for its timing, attendance, and outcomes, it is the striving for reallocation and realignment of power, characterised by multipolarity or polycentrism that attracts the most scrutiny. Is the SCO Development Bank (hereafter SDB) an attempt to amplify such multipolarity in the global financial structure?
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