IBC Committee gets acquainted with the benefits of non-commercial risk insurance
On February 21, 2020, a meeting of the IBC Mineral Resources Committee was held.
On February 21, 2020, a meeting of the IBC Mineral Resources Committee was held.
The meeting participants exchanged views on the approved procedure for the import / export of gold-bearing ore and concentrate, as well as the bill amending the Law on Subsoil. It was decided to develop committee proposals on the new bill and submit them to the relevant authorities.
Oleg Sofronov, insurance specialist at the Multilateral Investment Guarantee Agency (MIGA), World Bank Group, made a presentation on MIGA products and its experience in the mining sector. In particular, he acquainted the committee members with the benefits of non-commercial risk insurance as a tool to attract foreign investment in the extractive industries.
The Committee members also discussed the Stabilization Regime Agreement recently concluded between the Government of the Kyrgyz Republic and Chaarat Zaav CJSC.
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