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RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of April 10, 2017 No. 198

About measures for the organization of activities of the Guarantee fund of development of the small business

In pursuance of the resolution of the President of the Republic of Uzbekistan of April 10, 2017 No. PP-2768 "About creation of the Guarantee fund of development of the small business", and also for the purpose of creation of optimum conditions for acceleration of development of small business entities by expansion of access for them to the granted loans of commercial banks and the effective organization of activities of the Guarantee fund of development of the small business the Cabinet of Ministers decides:

1. To take into consideration that according to the resolution of the President of the Republic of Uzbekistan of April 10, 2017 No. PP-2768 "About creation of the Guarantee fund of development of the small business" is created the Guarantee fund of development of the small business in the form of joint-stock company (further — the Guarantee fund).

2. To approve Regulations on the procedure for provision to small business entities of providing on the credits of commercial banks issued on acquisition of new modern processing equipment and other purposes in the part which is not covered with pledge according to appendix.

3. To determine that:

financing of activities and covering of current expenses of executive office of the Guarantee fund is performed for the acquisition account from its financial and economic activities, and also other sources which are not prohibited by the legislation;

small business entities in case of projects implementation on which providing the Guarantee fund is provided participate with the share in the amount of at least 25 percent;

the credits issued on security the Guarantee fund go for acquisition of new modern processing equipment, creation and expansion of productive activity, and also other purposes.

4. To establish the procedure according to which:

guarantees of the Guarantee fund are provided on the credits of commercial banks issued to small business entities on acquisition of new modern processing equipment, creation and expansion of productive activity and other purposes in the part which is not covered with pledge based on the written request of commercial bank;

for provision of the guarantee the Guarantee fund levies from small business entities the commission fee in national currency in the amount of three annual interest rates from the amount of the guarantee;

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