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ORDER OF THE GOVERNMENT OF THE KYRGYZ REPUBLIC

of February 14, 2018 No. 92

About approval of the Financing of Agricultural Industry — 6 Project

For the purpose of rendering the state support to subjects of entrepreneurship and to physical persons of the Kyrgyz Republic for timely carrying out spring and field works of 2018 and further development of livestock production, crop production and agricultural cooperation, within the Program of the Government of the Kyrgyz Republic "Zhanna expensively - kyrk to codes", the Kyrgyz Republic approved by the resolution of Jogorku Kenesh of August 25, 2017 No. 1836-VI, and according to articles 10 and 17 of the constitutional Law of the Kyrgyz Republic "About the Government of the Kyrgyz Republic" the Government of the Kyrgyz Republic decides:

1. Approve the Financing of Agricultural Industry — 6 Project according to appendix.

2. To the Ministry of Finance of the Kyrgyz Republic in accordance with the established procedure:

- sign the relevant agreements on subsidizing of interest rates with the commercial banks and specialized financial credit institutes participating in project implementation "Financing of agricultural industry - 6";

- finance the first tranche of subsidy from means of the republican budget of the Kyrgyz Republic for 2018;

- provide in the bill of the Kyrgyz Republic "About the republican budget of the Kyrgyz Republic for 2019 and the forecast for 2020-2021" necessary means for financing of the second and third tranches of subsidy.

3. To the Ministry of Economics of the Kyrgyz Republic and the Ministry of Agriculture, the food industry and melioration of the Kyrgyz Republic to carry out efficiency analysis of the Financing of Agricultural Industry — 6 Project and to submit results for consideration of the Government of the Kyrgyz Republic.

4. To impose control of execution of this resolution on department of finance and credit policy, department of economy and investments, department of agro-industrial complex and ecology of Government office of the Kyrgyz Republic.

5. This resolution becomes effective after seven days from the date of official publication.

Prime Minister of the Kyrgyz Republic

S. Isakov

Appendix

Financing of Agricultural Industry — 6 project

Chapter 1. General provisions

Project objective "Financing of agricultural industry - 6" (further - the Project) is rendering the state support to subjects of entrepreneurship and to physical persons of the Kyrgyz Republic for timely carrying out spring and field works in 2018 and further development of livestock production, crop production and agricultural cooperatives by providing with available and preferential borrowing facilities.

Project deadline - 36 months.

Financing sources: republican budget of the Kyrgyz Republic for 2018-2020, means of commercial banks and financial credit institutes.

The beginning of project implementation - February, 2018.

Executives in charge: The Ministry of Finance of the Kyrgyz Republic, the Ministry of Economics of the Kyrgyz Republic, commercial banks and financial credit institutions participating in project implementation.

Project description. Within the Project financial resources of commercial banks and financial credit institutions will be provided to subjects of entrepreneurship and physical persons of the Kyrgyz Republic during 2018 for development of crop production and livestock production in preferential interest rates.

The government of the Kyrgyz Republic subsidizes expenses of commercial banks and financial credit institutions from means of the republican budget for 2018-2020 for placement of the credits on preferential interest rates.

The procedure for loan granting is performed according to requirements of the legislation of the Kyrgyz Republic and regulatory legal acts of National Bank of the Kyrgyz Republic.

All risks on return of the issued credits are born by commercial banks and financial credit institutions, and selection of borrowers is made according to their internal procedures.

Commercial banks and financial credit institutions have the right to perform financing of subjects of entrepreneurship within this Project under guarantee of the Russian-Kyrgyz Fund of development.

Commercial banks and financial credit institutions have no right to perform refinancing of the available debt of borrowers.

The commercial banks and financial credit institutions participating in the Project shall credit borrowers on the following main general terms:

Borrowing facilities in the amount up to 100 (hundred) thousand som on personal credits and to 500 (five hundred) thousand som on the group credits can be issued on unsecured basis with return term to 12 months, in the presence of the written recommendation of Council of elders/aksakals/village. At the same time the total amount directed to these purposes shall not exceed 5 percent from the total amount of crediting.

Commercial banks and financial credit institutions are allowed to establish longer grace period at the expense of own expenses, than specified in the Project.

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