- According to the report of the Audit Chamber, the conducted audit showed that the external aid management system generally meets the established goals: the Ministry of Economy registers, coordinates, and monitors projects, as well as conducts training activities and interacts with government agencies.
However, during the analysis, serious issues were identified when the Ministry acts not only as a coordinator but also as a direct executor of projects.
As an example, we can consider the project "Development of Women's Entrepreneurship," funded in the amount of $508.39 thousand:
1. Delays in implementation: The project has been ongoing for more than 5 years. Although funds became available in 2019, contracts with banking institutions were only signed in May 2025.
2. Lack of project competence: The Ministry acknowledged the lack of a sufficient number of qualified personnel for the effective implementation of the credit component, which led to attempts to transfer authority to another agency, contrary to the donor's conditions.
3. Insufficient work with financial institutions: Most financial and credit institutions refused to participate in the project due to unfavorable conditions. Adaptation of the project conditions began to occur only in 2023-2024, which was also accompanied by significant delays.
Thus, the actual launch of the project took place only in 2025, indicating the Ministry's insufficient readiness for the operational execution of financial projects.
4. Reputational risks: Long-term non-utilization of funds from the ADB and the Japanese Fund may negatively affect donor trust and threaten further cooperation.
5. Limited coverage: Even after the launch, the project only covers certain regions, excluding Bishkek and Osh, which significantly limits its impact on the development of women's entrepreneurship in the country.
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