Moscow, November 9 (KCNA) -- A meeting of heads of governments of the member states of the Shanghai Cooperation Organization (SCO) was held in Sankt-Petersburg, Russia on Nov. 7.

Present there were heads of governments and delegates of the SCO member states.

The meeting discussed the issue of strengthening economic cooperation among the member states to minimize negative effect of the global financial crisis.

The participants in the meeting stressed the need to establish a financing mechanism for joint projects. They supported in principle the opening of special accounts and establishment of development banks of the SCO.

At the end of the meeting a joint communique and a series of other documents were adopted.