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Kyrgyzstan hires French company to manage budget

French company Linpico SARL has been hired to strengthen planning, coordination, execution and budget transparency, as well as to provide advisory assistance. The Ministry of Economy and Finance of Kyrgyzstan reported.

It is noted that Linpico SARL will help Kyrgyzstan to update the existing econometric model of financial programming for more efficient forecasting of budget receipts and expenditures in the medium and long term. In addition, it will work to improve intergovernmental fiscal relations, procedures and practices for cash planning, cash liquidity management and control of fiscal obligations in line with appropriate international practice.

The company will also prepare an updated public debt management strategy, functional and technical requirements for the configuration of DMFAS v6.0 (for external and internal debt managing and accounting). It also plans to develop regulatory and methodological documents in accordance with international financial reporting standards.

«The company started to fulfill the assignment and on May 19 held a number of meetings and discussions with the heads of departments and divisions involved in the project. The World Bank team also attended the meetings. The company was hired as part of the second Public Financial Management Capacity Development project, approved in June 2018. The project is being implemented within the Multi-Donor Trust Fund with grant contributions from the Swiss government and the European Commission. The Multi-Donor Trust Fund is administered by the World Bank,» the statement says.

Linpico SARL was founded in 1991 and is a multidisciplinary consulting company operating worldwide in the field of international development. Its services cover the entire project cycle from program determining and formulation to project implementation, evaluation and monitoring. Linpico SARL’s clients include the European Commission, the Asian Development Bank, the World Bank, the African Development Bank, Inter-American Development Bank, French Development Agency, bilateral funding agencies, as well as national governments and regional institutions. The headquarters of the company is located in the south of France (Var).