Bishkek, Dec. 29, 2018 / Kabar /. Kyrgyz President Sooronbay Jeenbekov signed the Law of the Kyrgyz Republic “On Ratification of the Agreement on the Procedure for the Formation and Execution of the Budget of the Shanghai Cooperation Organization, signed on December 1, 2017 in the city of Sochi”, the Kyrgyz President’s press service reported.
The law was adopted by the Jogorku Kenesh on November 22, 2018.
The agreement determines the procedure for the formation and execution of the SCO budget, as well as the size of contributions that the member states annually make to the budget of the Organization on the basis of the equity principle. The annex to the Agreement establishes the size of the assessed contributions of the SCO member states, in accordance with which the size of the contribution of the Kyrgyz Republic to the SCO budget is 8.8 percent.
With the entry into force of this Agreement, the Agreement on the procedure for the formation and execution of the SCO budget of May 29, 2003 will become null and void.
The law comes into force ten days from the date of official publication.
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