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IFC Helps Improve Business Climate in Kyrgyz Republic with new Website

Bishkek, Kyrgyz Republic, December 23, 2014 – IFC, a member of the World Bank Group, has helped the government of the Kyrgyz Republic develop a website dedicated to state-mandated business inspections, part of an effort to improve the country’s business climate and stoke economic growth.
The new portal,  HYPERLINK "" , was unveiled today. It will help improve the efficiency and transparency of inspections in areas like sanitation, worker safety, and environmental protection. That is expected to reduce the amount of money enterprises spend on the inspection process, freeing up resources for business development. The system, managed by the Ministry of Economy, will also help improve the quality of inspections, further protecting workers and the public.
"The Kyrgyz government has been doing a lot to create a more favorable environment for the private sector, streamlining requirements for doing business and improving the quality of state services,” said Temir Sariev, Minister of the Economy. “The portal is a tangible example of these efforts.”
The system, which will be shared across 12 inspecting agencies, includes a database of businesses, outlining their size, industry, risk profile, and inspection history. It also provides entrepreneurs with information about the inspection process and outlines planned inspections.
“This new portal is an important tool for increasing the transparency and accountability of inspectorates, while improving the quality and effectiveness of their inspections,” said Serhiy Osavoluk, IFC Project Manager. “It will also make it easier for businesses to comply with regulations, as any firm with internet access can check its inspection record and learn how to prevent violations.”
The initiative is part of IFC’s efforts to improve the investment climate in Central Asia by facilitating investments and reducing compliance costs for businesses. The Central Asia Investment Climate Program is made possible with financial support from the government of Switzerland and the United Kingdom’s Department for International Development.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in about 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and boost shared prosperity. In FY14, we provided more than $22 billion in financing to improve lives in developing countries and tackle the most urgent challenges of development. For more information, visit .
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