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World Bank's Country Manager, Kyrgyzstan's PM discuss ratification terms of financial agreements.

Terms for ratification of financial agreements by the World Bank reach almost 2.5 years, Country Manager for Kyrgyzstan Jean-Michel Happi said at the meeting with Prime Minister Joomart Otorbayev in Bishkek.

On average, 13 months are spent for the ratification process, and 4 months more the agreement waits in the Government for further activities. Happi conveyed concerns of his colleagues from Germany over the agreement on financial and technical cooperation that had been reached in 2011 and ratified in 2014. It took 2 years and 4 months to ratify it due to many reasons. He thus offered several options for solving the problem.

Simplification and alignment of the procedures for small grants were exampled to accelerate adoption of projects worth less than $1 million, which would require 6 plus 3 months for ratification. Or, the Parliament may simply express approval and absence of claims. The right to sign the agreements is still a prerogative of the Government, Jean-Michel Happi stressed.

Prime Minister Joomart Otorbayev also expressed dissatisfaction with the terms of ratification.

"For example, the World Bank's financial sector development project ratification required 483 days in the Government and 610 days in the Parliament. On average, each of the 16 projects stayed for 4 months in the Government and for 8 months in the Parliament... With all due respect to the procedures, these terms are unacceptable," he said.

Otorbayev thus instructed to create two working groups on accelerating ratification of financial documents.

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Publication:AKIpress News Agency
Geographic Code:9KYRG
Date:Dec 13, 2014
Words:255
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