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Corruption risks will be minimized in major projects realization

12.11.15

The Prime Minister of the Russian Federation Dmitry Medvedev has signed Resolution # 1199 prepared by the Ministry of Economic Development of Russia. The resolution determines the partially government-owned major projects monitoring procedure.

In order to increase monitoring effectiveness and to improve the mechanism of revealing and preventing corruption risks in major projects realization the above mentioned resolution determines the rules of the projects realization monitoring and integral estimation criteria of possible corrupt practices and risks during projects realization.

According to the rules a project can be determined as major if it meets all following criteria:

- it is being realized following the President’s decree, within the Federal Target Program, Federal targeted investment program;

- it is financed fully or partially (not less than 5% of estimated cost) from federal budget resources and/or from the National Wealth Fund resources;

- the estimated cost is 8 billion ruble or more;

- the work within the project realization that has been actually completed and financed by customers (developers) is on January 1, 2014 not more than 50% of estimated cost.

The list of major projects is approved by the government of Russia upon the recommendation of the Ministry of Economic Development of Russia.

The above mentioned decisions are made to provide major projects realization monitoring and to minimize possible corrupt practices and risks during projects realization.

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