On 10 February 2022, the SOE Technical Note – integrated SOE Framework (iSOEF) was presented in a virtual workshop to the Kyrgyz Government. Building on the initial workshop in 2020 and taking into account the Government’s comments, final iSOEF Assessment analyzes the impact of the Kyrgyz State-owned Enterprises (SOEs) on the economy, assesses fiscal costs and risks stemming from SOEs focusing on the energy sector, and analyzes corporate governance and financial reporting frameworks, practices applied by the Kyrgyz SOEs.
The report proposes ways to strengthen SOEs performance monitoring and corporate governance, as contributing factors to improving their efficiency and contribution to the Kyrgyz economy. The virtual workshop gathered representatives of the Ministry of Economy, the Ministry of Finance, the State Assets Management Fund, the State Service for Regulation and Supervision of Financial Markets of the Kyrgyz Republic, the Energy Holding, and largest SOEs. The workshop presented main findings of the iSOEF and featured high-level policy discussions about the existing challenges and the main priority areas for SOE reforms going forward.
The Technical Note was published in April 2021. The event was delivered as part of the World Bank’s technical assistance under Kyrgyz Audit and Reporting Enhancement Project (KAREP), funded by the Swiss State Secretariat for Economic Affairs (SECO).
