Based on the analysis of the system of management for investment projects with the participation of the International Financial Institutions/Foreign Governmental Financial Organizations (IFI/FGFO), a number of issues hindering the efficiency of execution of works in this area have been identified. To resolve the issues, the Resolution of the President No. PP-3796 was adopted on June 21, 2018. The resolution grants the functions of the Project Office, which shall be responsible for coordination and control over the operation of customers of investment projects, on the State Investment Committee. In addition, the Resolution takes out project implementation groups (PIG) from the subordination of customers and transfers them to the subordination of the Project Office.

The decisions of the Project Office shall be binding on customers, organs of state and economic management, whereas information on the progress of projects' implementation shall be submitted to the Cabinet of Ministers on a monthly basis.

Apart from coordinating and controlling customers' activities, the Project Office shall have the following main functions:

  • Recruiting PIG
  • Monitoring timely financing of investment projects
  • Coordinating interaction between customers, IFI/FGFO and authorized ministries and departments
  • Assisting with the resolution of issues, hindering effective and timely implementation of investment projects, including interaction with organs of state and economic management

A decision of the President is expected to be adopted in September 2018, which will provide for a reduction of the number of PIGs by their merger or liquidation, as well as the procedure of inter-departmental coordination of investment projects.

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