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The Ministry of Economy proposed to approve the Model Statute on the Regions Development Foundation

October 15, 2014

On October 15, 2014 the Ministry of Economy submitted for public discussion the draft Regulation of the Government of the Kyrgyz Republic “On Approval of the Model Statute on the Regions Development Foundation”.

The draft Model Statute “On the Regions Development Foundation” establishes the order of formation of regions development foundations and crediting of funds generated in accordance with the legislation on account of particular types of revenue or other receipts used for development and maintenance of local infrastructure, financing social development programs and implementation of other particular purpose measures.

The draft Model Statute was prepared in order to develop regions, create conditions for independent financial issues regulation and carrying out of activity.