It is no secret that 10-15% of grants and loans go into pockets through corruption schemes: MP

AKIPRESS.COM - Special control of how many loans and grants are coming in Kyrgyzstan must be taken, MP Ruslan Kazakbayev said June 8 at a meeting of the parliament committee on budget and finance. "It is no secret that 10-15% of loans and grants go into some pockets or the shadow economy in various ways. No one can give a guarantee here, this needs to be controlled," he said addressing government and law enforcement officials.
The parliament committee on budget and finance is considering ratification of the financing agreement between the Kyrgyz Republic and the International Development Association on the Learning for the Future Project project signed May 7, 2020 in Bishkek.
IDA will provide $25 million grant and $25 million loan for the project. The maturity period of the loan is 38 years, the grace period will be 6 years.
The objective of this project is to enhance school readiness and teacher effectiveness in pre-school through secondary education in targeted communities.