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Kyrgyzstan : KYRGYZ PARLIAMENT dissapproves position of the Ministry of Finance on repayable CREDIT FUNDS

June 19, 2014

The position of the Ministry of Finance has been criticized by Kyrgyz Parliament on repayable credit funds.

Deputies incensed after finding out that the money from the loans would be stored in the National Bank for years.

The speaker Asylbek Zheenbekov added,"What for is they kept for several years? During this time, the inflation simply will "eat" this money. It would be better to direct reimbursable funds for the purchase of new agricultural machinery, implementation of other projects. Then it would be more effect."

The deputy Kenzhebek Bokoyev pressed to change mechanisms of repayable funds use.

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Source: TendersInfo (India)

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