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Cabinet of Ministers signs memorandum of cooperation with Gazprombank

Chairman of the Cabinet of Ministers of Kyrgyzstan Akylbek Japarov met with the First Vice Presidents, Board Members of Gazprombank JSC Denis Kamyshev and Alexey Popovich within his working trip to Moscow. Press service of the Cabinet of Ministers reported.

During the talks, the sides discussed issues of applying Gazprombank’s experience and technologies in the field of cross-border banking support of contracts in the Kyrgyz Republic as part of the work being done to amend the national legislation in the field of public procurement and improve this area. Earlier, the President Sadyr Japarov gave instructions to work out the issue.

The parties also touched upon some aspects of further interaction to promote banking support services, mechanisms for financing public procurement, improving the system for making payments by Kyrgyz labor migrants from Russia to Kyrgyzstan.

«In addition, in the presence of the Chairman of the Cabinet of Ministers, a memorandum of cooperation was signed at the meeting with the aim of introducing banking support of contracts in the implementation of government projects and programs. From the Kyrgyz side, the document was signed by the Finance Minister Almaz Baketaev, from the side of Gazprombank — Oleg Melnikov, Executive Vice President — Head of the Department of Banking Support of Contracts,» the statement says.

Gazprombank JSC is one of the largest universal financial institutions in the Russian Federation, providing a wide range of banking, financial, investment products and services to corporate and private clients, financial institutions, institutional and private investors.

It is one of the three largest banks in Russia in terms of key indicators and serves the key sectors of the Russian economy — gas, oil, nuclear, chemical and petrochemical, ferrous and non-ferrous metallurgy, electric power, mechanical engineering and metalworking production, transport, construction, communications, agro-industrial complex, trade.