Contracts from international organizations will appear in public procurement

The Ministry of Economic Development is preparing amendments that will make it possible to publish in the Unified Information System for Procurement (UIS) data on tenders conducted by international financial organizations, the ministry told Izvestia.

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It is primarily about the projects of the New Development Bank (former BRICS Bank - Ed.), they added.

In the future, contracts of other organizations - for example, the Eurasian Development Bank and the Asian Infrastructure Investment Bank - may appear in state procurement, the Ministry of Economic Development said.

The projects will probably be related to the development and construction of infrastructure, energy and water supply facilities, said Freedom Finance Global analyst Vladimir Chernov.

The publication of tenders from international organizations in public procurement will allow Russian companies to have more information about the transactions, which will develop cooperation between countries, said Maria Ermilova, associate professor of the Department of Sustainable Development Finance at Plekhanov Russian Economic University.

As Izvestia previously wrote, the New Development Bank will allocate $1.2 billion in loans for Russian projects until 2027. For the entire period of such agreements (since 2017), $336 million has already been raised.

Read more in Izvestia's exclusive piece:

BRICS files: contracts from international organizations will appear in government procurement