About the conference on banking support of project financing

On August 10-13, 2023, the resort hotel Kapriz is hosting a conference on banking support for project financing, customer lending and financing under the public procurement system, organized by Bank GPB (JSC) (hereinafter referred to as Gazprombank). On behalf of the Hungarian-Kyrgyz Development Fund (hereinafter referred to as the Fund), Nurbek Azygaliev, an analyst, and Urmat Kydyrganov, a specialist, take part in the conference.

The conference was started by welcome notes from First Deputy Chairman of the Cabinet of Ministers of the Kyrgyz Republic, Minister of Finance of the Kyrgyz Republic and the executives of Gazprombank.

In the first two days of work, a banking support technology was presented, which was developed and adapted for use in the Kyrgyz Republic. There was an active discussion by all participants of the proposed mechanism and the practice of its application on the example of banking support for public procurement contracts, as well as its use in the implementation of projects for the development of the country's economy. The participants of the conference reiterated the relevance of the practical use of the proposed mechanism and the corresponding software to further increase the efficiency and transparency in the public procurement system, as well as reliable compliance with the agreed procedures for supporting project financing by both financial and credit institutions directly serving such development institutions as the Fund, as well as by the borrowers themselves who received financing.

The work of this event is successful, because, first of all, it allows all participants to exchange implementation experience, deepen their knowledge in the field of banking support, which in the future will help to avoid various mistakes and help in managing existing risks. In the opinion of many present, this conference will contribute to the development of professionalism and ensure productive and mutually beneficial cooperation between state institutions, financial institutions and clients, which will undoubtedly have a positive effect on the economic development of the country.

Reference:

The goals, conditions of financing of the Hungarian-Kyrgyz Development Fund can be found on the website at the link https://hkdf.kg/frontend/web/application/index (information is available in Kyrgyz, Russian and English languages).