The Cabinet of Ministers of Kyrgyzstan adopted a new regulation requiring banking support services for all contracts related to public procurement. The goal is to ensure honest and transparent spending of public funds.
The authorities have approved:
- The procedure how exactly bank support will be carried out;
- A list of banks that can do this.
From now on, when concluding a contract, each state organization must specify that the money will be transferred through a bank. Payment will be made in stages — only after the work is completed and the act is signed.
By 2026, the Ministry of Finance, together with banks, must come up with and implement special banking services for suppliers and contractors.
It is also planned to introduce this rule within three months for state-owned enterprises and organizations where the state’s share is more than 50 percent.
The resolution will come into force seven days after the official publication.
