Financial Crime World

KYRGYZSTAN TAKES STEPS TO PREVENT FINANCIAL CRIME WITH COUNCIL OF EUROPE’S HELP

The Kyrgyz Republic has embarked on a joint initiative with the Council of Europe to strengthen its capacities in preventing and combating corruption. The project, dubbed “Strengthen Prevention and Combating of Corruption in Kyrgyz Republic” (SPCC-KY), aims to enhance domestic capacities to prevent and fight financial crime, contributing to the development of democracy and the rule of law in the country.

Background

Corruption remains a significant problem in the Kyrgyz Republic, according to independent assessments by organizations such as the OECD, Transparency International, and the World Bank. However, the authorities have acknowledged this issue and expressed their willingness to align their legislation and practices with those of Council of Europe member states.

Project Objectives

The SPCC-KY Project aims to support the Kyrgyz authorities in their efforts by:

  • Enhancing adherence by the Kyrgyz Republic to European and international anti-corruption standards
  • Improving capacities for implementing effective anti-corruption strategies and policies
  • Strengthening skills of judiciary, prosecutorial, and law enforcement agencies to address corruption efficiently
  • Conducting a public awareness campaign to promote anti-corruption efforts

Project Details

The project is a joint initiative between the Council of Europe and the European Union, with the latter contributing 90% of the total budget of €555,556. The project team is led from the Council of Europe’s headquarters in Strasbourg, with Igor Nebyvaev as the Head of Unit II and Irina Talianu as the Administrator/Project Manager. National Consultant Jenishbek Arzymatov will also play a key role in the project’s implementation in Bishkek.

Expected Outcomes

The expected outcomes of the project include:

  • Strengthened capacities to prevent and fight financial crime
  • Improved governance structures with enhanced transparency and accountability
  • A more just and equitable society

Conclusion

With this initiative, the Kyrgyz Republic is taking concrete steps towards combating financial crime and promoting transparency and accountability in its governance structures. The Council of Europe’s support is expected to have a lasting impact on the country’s efforts to build a more just and equitable society.