Capacity building for financing sustainable development in the CIS Region

The project objective is to raise awareness and strengthen capacities of ministries and governmental agencies, national financial institutions, business entities and entrepreneurs in dealing with international financial institutions’ (IFI) projects in the Commonwealth of Independent States countries (CIS).

Achievement of the following results shall support this objective:

  • Building capacity for investment development projects preparation and implementation in the Kyrgyz Republic.
  • Building capacity of the CIS member-states in accessing new development finance sources

The following two activities shall contribute to the achievement of these results:

Activity 1. Technical assistance to the Kyrgyz Republic in identification, preparation and implementation of bankable projects for financing from the Russian-Kyrgyz Development Fund;

Activity 2. Technical assistance in project preparation for potential financing from the International Financial Institutions to governmental and business entities in Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Tajikistan, including clients of the Eurasian Development Bank.

At the time of the Project commencement the following results have already been achieved in close cooperation with the Ministry of Economy and the Office of the Prime-Minister of the Kyrgyz Republic:

• Creation of the Project Preparation Foundation was included into the Program of the Government of the KR for 2018-2023 entitled “Unity. Trust. Creation” approved by the national Parliament of the KR which clearly contributed to the Foundation’s sustainability;

• National mechanism for identification of potential business projects that apply for strategic support has been launched. The Council in charge of making up the list of priority investment projects for the Project Preparation Foundation (thereafter – the Council), comprised of the Minister of economy, deputy ministers of economy, the director of the Investment Promotion and Protection Agency under the Government of the KR, deputy chair of the Board of the RKDF, representatives of the major business associations was set up in accordance with the Order # 125 of the Ministry of Economy, dated October 1, 2018.

• The Council has considered 32 business projects and approved 7 business projects in the following sectors: “Agriculture and Agribusiness”, “Pisciculture”, “Development of small hydropower plants”, originating from the Osh, Issyk-Kul, Naryn and Chui provinces, that have been recommended for preparation of feasibility studies, which is the first stage in the engagement of the Project Preparation Foundation.