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Formation of Investment Council in the Kyrgyz Republic
The Government of the Kyrgyz Republic and the EBRD have agreed to support the
establishment of a Consultative Council on Investment Climate (CCIC). The
Kyrgyz Government’s support for the CCIC was laid out in the Decree of the
President of 24 February 2007.
The EBRD has received support from the Early Transition Countries (ETC)
Multi-Donor Fund (the Fund) which approved use of resources for this purpose
at its assembly meeting on 17 November 2006.
The Fund is a key element of the EBRD’s ETC Initiative. The Initiative was
officially launched at the EBRD’s Annual Meeting in London in April 2004 to
expand the level and types of support now available to eight countries:
Armenia, Azerbaijan, Georgia, the Kyrgyz Republic, Moldova, Mongolia,
Tajikistan and Uzbekistan.
A key objective of the ETCI is to improve policy dialogue between the private
sector and government authorities to encourage institutional reforms which
enhance the investment climate. For this reason the Bank is working to help
create or reinforce investment councils initially in three countries – the
Kyrgyz Republic, Armenia and Georgia. Each CCIC will seek to improve the legal
and regulatory frameworks, remove administrative barriers, and promote sound
accounting and good governance.
Talaibek Koichumanov has been selected as the Head of the CCIC Secretariat in
an open tender managed by EBRD and the Government of the Kyrgyz Republic. Mr.
Koichumanov, a former Finance Minister of the Kyrgyz Republic, is now
selecting a team of legal, financial and economic experts to support the
Secretariat to the CCIC.
The CCIC will include representatives from Government (including the President
and Prime Minister), the international donor community and the private sector.
The CCIC Secretariat will have a mandate to liaise with all relevant
stakeholders, including:
• Government;
• Parliament
• Business (both domestic and foreign investors);
• International financial institutions and donors; and
• Civil society
It is anticipated that the first CCIC meeting will take place by April.
The ETC Multi-Donor Fund, launched in November 2004, is supported by Canada,
Finland, Ireland, Japan, Luxembourg, Netherlands, Norway, Spain, Sweden,
Switzerland, Taiwan and the UK. The Fund is aimed at facilitating the EBRD’s
assistance delivery in the ETC countries and at improving overall coordination
of donor support.
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