ORDER OF THE GOVERNMENT OF THE KYRGYZ REPUBLIC

of May 28, 2019 No. 232

About approval of the Provision on management of the state investments

For the purpose of ensuring the approved and single process of determination, selection, realization, control and project evaluation of the state investments realized fully or partially due to external borrowings and grants based on international agreements of the Kyrgyz Republic according to Articles 28, of 30, of 35, 62 and 71 Budget codes of the Kyrgyz Republic, articles 10 and 17 of the constitutional Law of the Kyrgyz Republic "About the Government of the Kyrgyz Republic" the Government of the Kyrgyz Republic decides:

1. Approve the Provision on management of the state investments according to appendix.

2. To state bodies and local government bodies (under approval) in case of determination, selection, realization, control and project evaluation of the state investments to be guided by the Provision specified in Item 1 of this resolution.

3. To impose control of execution of this resolution on department of economy and investments of Government office of the Kyrgyz Republic.

4. This resolution becomes effective after ten days from the date of official publication.

Appendix

to the Order of the Government of the Kyrgyz Republic of May 28, 2019 No. 232

Provision on management of the state investments

1. General provisions

1. The provision on management of the state investments (further - the Provision) establishes single procedure for initiation, selection, preparation, realization, monitoring and project evaluation of the state investments.

2. Action of this provision extends to public authorities and local government bodies (under approval) the Kyrgyz Republic.

3. The purpose of this provision is high-quality ensuring preparation and projects implementation of the state investments for receipt of the greatest possible social and economic return from budget investments.

4. This Provision is not applied to projects of technical assistance, and also the grants which are not entering budget system of the Kyrgyz Republic including the emergency humanitarian assistance, the help aimed at providing national security, the military and food aid arriving to the Kyrgyz Republic from donors and the international organizations, the projects connected with urgent implementation of measures for the prevention or mitigation of consequences of emergency situations.

5. Control of the state investments of the Kyrgyz Republic is exercised according to the following principles:

- projects of the state investments are initiated and affirm according to the priorities of development of the Kyrgyz Republic reflected in the relevant documents, such as national, industry programs or strategy, and also other documents including territorial programs of social and economic development;

- the single systematized process determined by this Provision including application of the single standard of the used documents is applied to projects of the state investments;

- for the initiated projects of the state investments measurable indicators of effectiveness and efficiency which will be taken into account in case of selection and approval of projects shall be determined, and also to be used for efficiency evaluation of projects;

- concerning implementable and completed projects of the state investments assessment regarding their efficiency according to the techniques approved by authorized state body on economic forecasting is without fail carried out;

- the corresponding officials bear responsibility for planning, initiation, realization, completion and evaluating projects of the state investments, including ensuring monitoring, collection and preparation of information necessary for projects implementation assessment;

- approval and financing of projects of the state investments are performed according to the budget legislation of the Kyrgyz Republic and budget cycle;

- financing of projects of the state investments is performed taking into account the Strategy of national debt management approved by the Cabinet of Ministers of the Kyrgyz Republic;

- processes and results of planning, realization, completion and project evaluation of the state investments shall be transparent and available to the public.

2. Terms and determinations

6. In this Provision the following terms and their determinations are applied:

- project assets - object or objects, services or other functional value created as a result of project implementation of the state investments;

- beneficiaries of the project - the physical persons or legal entities receiving benefits from the events held within the project of the state investments;

- budget investments - means republican or local budgets, means from external sources (the credits and grants of bilateral and multilateral donors) directed to projects implementation of the state investments in the Kyrgyz Republic in the form of financing or joint financing;

- impact of the project on the government budget of the Kyrgyz Republic - the predicted impact of the project of the state investments on decrease or increase in expenses of the government budget of the Kyrgyz Republic;

- interstate procedures - process of ratification, accession or approval of the international treaty of the Kyrgyz Republic according to the procedure, established by the legislation of the Kyrgyz Republic on international treaties;

- the state investments - the funds of the republican budget allocated for financing of the investment projects realized taking into account external borrowings and grants based on international agreements of the Kyrgyz Republic;

- loan grant element - the loan lgotnost degree determined as the difference between nominal loan amount and the amount of the discounted future payments for debt servicing expressed as a percentage nominal loan amount, calculated according to technique of the International Monetary Fund;

- the donor - the bilateral or multilateral partner of the Kyrgyz Republic granting the loan or grant for project implementation of the state investments;

- indicators of effectiveness of the project - the quantitative and qualitative financial and non-financial indices used for measurement of project deliverables of the state investments;

- the executive agency - the state body or local government body (under approval) which is the main manager of budgetary funds and responsible for initiation, preparation and project implementation of the state investments according to the agreement on financing;

- the project coordinator - the representative of the executive agency responsible for certain project of the state investments;

- matrix of results of realization - the document containing indicators of project deliverables of the state investments and terms of their achievement;

- department/project implementation team - temporarily created department or group in the executive or implementing agency, the performing tasks on project implementation of the state investments;

- monitoring and assessment of project implementation during the post-project period - the complex of monitoring and analytical researches directed to quantitative and high-quality determination of extent of impact of the project of the state investments, achievements of the planned indicators, efficiency of functioning of its assets during the period after project implementation completion;

- the list of projects for scenarios of development - the projects of the state investments prepared according to requirements of this provision, approved by authorized bodies, but which did not receive financing;

- the project of the state investments (further - the project) - the complex of actions with accurately particular purposes and results realized within fixed schedule and organizational structure. For the purposes of this provision projects of the state investments are understood as the projects financed from means of the republican budget taking into account external borrowings and grants based on international agreements of the Kyrgyz Republic;

- the project request - the initiating document containing the main project information of the state investments in form according to appendix 1 to this Provision;

- the framework agreement - the agreement determining the agreement in principle of the parties about forms, the directions and conditions of cooperation which shall be realized afterwards in separate projects of the state investments;

- the implementing agency - the organization having the status of the legal entity responsible for realization or participating in project implementation of the state investments according to the agreement on financing;

- Council of the Cabinet of Ministers of the Kyrgyz Republic on fiscal and investment policy (further - Council) - the collegiate organ created by the Cabinet of Ministers of the Kyrgyz Republic in the value determined in the Budget code of the Kyrgyz Republic;

- the agreement on financing - the international treaty and not international treaty signed between the Kyrgyz Republic and the donor, containing all financial, legal and other conditions on the project of the state investments;

- authorized state body on forecasting and budget implementation - the state body performing functions on development and realization of state policy in the field of management of public finances and also politicians in the field of internal audit and public procurements;

- authorized state body on economic forecasting - the state body performing functions on development and realization of state policy in the field of macroeconomic, investments, economic and regional development;

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