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RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of September 8, 2017 No. 704

About measures for the organization of activities of the State fund of support of development of business activity under the Cabinet of Ministers of the Republic of Uzbekistan

In pursuance of the resolution of the President of the Republic of Uzbekistan of August 17, 2017 "About creation of the State fund of support of development of business activity" the Cabinet of Ministers decides No. PP-3225:

1. Approve Regulations on the State fund of support of development of business activity under the Cabinet of Ministers of the Republic of Uzbekistan according to appendix.

2. Take into consideration that the State fund of support of development of business activity under the Cabinet of Ministers of the Republic of Uzbekistan is placed to the address: the city of Tashkent, Ulitsa Furkata, the house 1 (the 7 and 8 floors) on the right of free use.

3. To the ministries and departments to bring the regulatory legal acts adopted by them into accord with this resolution in a month.

4. To impose control of execution of this resolution on the deputy prime minister of the Republic of Uzbekistan D. A. Kuchkarov.

Prime Minister of the Republic of Uzbekistan
Abdullah Aripov

Appendix

to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of September 8, 2017 No. 704

Regulations on the State fund of support of development of business activity under the Cabinet of Ministers of the Republic of Uzbekistan

Chapter 1. General provisions

1. This Provision according to the resolution of the President of the Republic of Uzbekistan of August 17, 2017 No. PP-3225 "About creation of the State fund of support of development of business activity" determines tasks and activities, procedure for management of the State fund of support of development of business activity under the Cabinet of Ministers of the Republic of Uzbekistan (further - Fund), and also procedure for forming and use of its means.

The fund in the activities is accountable to the Cabinet of Ministers of the Republic of Uzbekistan.

2. The fund in the activities is guided by the Constitution and the laws of the Republic of Uzbekistan, resolutions of chambers of Oliy Majlis of the Republic of Uzbekistan, decrees, resolutions and orders of the President of the Republic of Uzbekistan, resolutions and orders of the Cabinet of Ministers of the Republic of Uzbekistan, this Provision, and also other acts of the legislation.

3. The fund is legal entity in the form of public institution, has separate balance, treasurer personal accounts in Treasury of the Ministry of Finance of the Republic of Uzbekistan, seal with the image of the State Emblem of the Republic of Uzbekistan and with the name in state language.

4. Location (postal address) of Fund: city of Tashkent, Ulitsa Furkata, house 1.

5. In this Provision the following basic concepts are used:

projects - complex of the interconnected actions and works performed during in advance determined time for the purpose of receipt of economic, social and other benefits in the sphere:

agricultural industry, first of all the modern energy efficient greenhouses directed to creation, development of livestock production, poultry farming, fishery, rabbit breeding, beekeeping, wine growing and gardening, including intensive gardens;

conversions of agricultural products, creation of infrastructure on storage of fruit and vegetable products and the logistic centers connected with its transportation;

arrangement and repair of places public in the apartment houses made by managing companies;

other directions of business activity determined by the Cabinet of Ministers of the Republic of Uzbekistan.

the credit - the credit, including the soft credit and the microcredit of commercial bank used for financing of projects of small business entities;

compensation - covering of part of interest expenses on the credits of commercial banks;

the guarantee - the guarantee agreement which obliges Fund to answer to commercial bank (creditor) for obligation fulfillment to small business entities (debtor) on the credit.

Chapter 2. Main objective and activities of Fund

6. The main objective of Fund is provision to small business entities of financial support in type:

a) the allocated resources to commercial banks, including at the expense of the attracted foreign credit lines, for the subsequent crediting of small business entities for the purposes specified in this Provision;

b) guarantees to small business entities on the credits of commercial banks at the rate to 50 percent inclusive from credit amount, but no more 500, 0 thousand dollars of the USA or in their equivalent;

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