Oleg Melnikov spoke at the St. Petersburg International Economic Forum

15.06.2023       

Oleg Melnikov, Executive Vice President of Gazprombank, told SPIEF-2023 participants about the banking support of contracts. During the largest economic forum in Russia, a Russian-Kyrgyz agreement was signed on expanding cooperation and using the technology of banking contract support in the implementation of investment projects in the Kyrgyz Republic. The partnership between Gazprombank and the RKDF will increase the scope of banking support in the Kyrgyz Republic, to increase the return on joint Russian-Kyrgyz projects and the investment attractiveness of the country for Russian companies that are already familiar with this tool.
Banking contract support as a mechanism for controlling the targeted spending of funds has been used in the public procurement system of the Kyrgyz Republic since December 2022. This became possible thanks to the export of technology developed by Gazprombank to the leading credit institutions of the Republic. At the same time, the technology is universal and well suited for projects involving private investment.
“Gazprombank quickly transferred banking support technology to credit institutions in Kyrgyzstan, and today the mechanism is actively used as part of the implementation of government contracts. Sure, that the unique competencies of integrated support of investment projects will be in demand", – noted Executive Vice President – Oleg Melnikov, Head of the Department for Banking Support of Contracts at Gazprombank.