22:05
USD 68.22
EUR 79.23
RUB 1.08

Kyrgyzstan gets loans for economically unprofitable projects

Kyrgyzstan gets loans for economically unprofitable projects. The member of Open Government National Forum Chingiz Beksultanov informed 24.kg news agency.

According to him, Kyrgyzstan has problems with getting foreign aid — from planning to monitoring.

«The main goal of foreign aid is the development of the country. However, no one assesses its impact on the development. The Ministry of Finance is responsible only for timely financing. The Accounting Chamber must conduct an effectiveness audit. The Ministry of Finance and Economy should plan projects and link them to national priorities. In fact, a donor comes, offers infrastructure projects, the country takes a loan, not calculating the effect. Honestly, economic benefit of some projects is quite doubtful,» Chingiz Beksultanov explained.

For example, it is not known whether the construction of an alternative north-south road will have a positive effect on the development of Naryn region.

«I doubt that the invested money will be returned due to the growth of the region’s economy. Often state agencies turn a blind eye to this aspect, if only the money would come to the country,» he said.

The public should know how projects are implemented, because loans are repaid at the expense of the taxpayers. Not all projects lead to a positive result, and sometimes frankly negative.

Chingiz Beksultanov

He added that within the framework of building the Open Government it was necessary to create a platform for managing external assistance. The information system Aid Management Platform (AMP) is not functional for users’ review, data processing, generation of appropriate types of reporting on the movement and use of external assistance funds.

Popular