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RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of August 22, 2017 No. 655

About additional measures for rendering microfinancial support to small business entities, financing of the projects providing creation of new workplaces and provision of microfinancial services to needy families

(as amended on 14-04-2020)

In pursuance of the Presidential decree of the Republic of Uzbekistan of May 24, 2017 No. UP-5052 "About Measures for Further Enhancement of State Policy in the Sphere of Employment and to Radical Increase in Efficiency of Activities of Bodies for Work", for the purpose of microfinancial support of small business entities, financing of the projects providing creation of new workplaces and provision of microfinancial services to needy families, the Cabinet of Ministers decides:

1. Determine additional tasks of Mikrocreditbank Joint stock bank (further - JSB Mikrocreditbank):

providing financial support to small business entities for the purpose of involvement of youth in business activity, loan granting for forming of the original capital, rendering microfinancial services for development of family entrepreneurship, business activity of women, home work, workmanship and personal subsidiary farms;

financing of the programs directed to increase in the income of needy families, strengthening of cooperation with bodies for work and self-government of citizens, the Union of youth of Uzbekistan, Committee of women of Uzbekistan and other interested ministries and departments for the purpose of employment of not employed population;

financing of the projects providing employment increase and the income of the population, especially in the rural zone, financial support of activities of the companies, creating new workplaces, including provision of the credits by it for acquisition of the modern equipment and mini-technologies for technological equipment and upgrade;

development of direct cooperation with the international and foreign financial institutions and the organizations, including for the purpose of attraction of credit lines and investments.

2. Take into consideration that according to the resolution of the President of the Republic of Uzbekistan of June 16, 2017 No. PP-3066 "About additional measures for increase in financial stability and level of capitalization of commercial banks" Fund of reconstruction and development of the Republic of Uzbekistan for the purpose of additional capitalization of JSB Mikrocreditbank are transferred funds in the amount of 30, by 0 million US dollars.

3. To the Ministry of Finance together with Central bank of the Republic of Uzbekistan since 2018 to take necessary measures for annual increase in the authorized capital of JSB Mikrocreditbank.

4. Approve:

The program of measures for expansion of points of access, range and amounts of microfinancial services for the beginning entrepreneurs for 2017 - 2020 according to appendix No. 2.

5. To the supervisory board and board of JSB Mikrocreditbank in two-month time to develop and submit for approval in the Cabinet of Ministers of the Republic of Uzbekistan updated structure of JSB Mikrocreditbank taking into account enhancement of management system and optimization of placement of branches, with development of the criteria and indicators of efficiency evaluation of activities of bank providing cardinal increase in its role in questions of employment of the population.

6. Provide to JSB Mikrocreditbank implementation of annual expenses on charity it is strict within the size established by the legislation.

7. To recommend to national broadcasting company, the Uzbek agency on seal and information, Chamber of Commerce and Industry of the Republic of Uzbekistan and JSB Mikrocreditbank in 2017-2018 extended coverage in mass media of activities of JSB Mikrocreditbank for rendering microfinancial services in the sphere of employment without collection of payment.

8. Make changes and addition to the resolution of the Cabinet of Ministers of May 6, 2006 No. 78 "About measures for the organization of activities and strengthening of material and technical resources of Mikrocreditbank Joint stock bank (the joint venture of the Republic of Uzbekistan, 2006, No. 5, the Art. 28), according to appendix No. 3.

9. To impose control of execution of this resolution on the deputy prime minister of the Republic of Uzbekistan D. A. Kuchkarov and the minister of employment and employment relationships of the Republic of Uzbekistan A. A. Haitov.

Prime Minister of the Republic of Uzbekistan
Abdullah Aripov

Appendix No. 1

to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of August 22, 2017 No. 655

Structure of the Supervisory board of Mikrocreditbank Joint stock bank

Ceased to be valid according to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of 14.04.2020 No. 217

Appendix No. 2

to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of August 22, 2017 No. 655

The program of measures for expansion of points of access, range and amounts of microfinancial services for the beginning entrepreneurs for 2017 - 2020

Name of action

Implementation mechanism

Completion dates

Executives in charge

I. Growth in volumes of microfinancial services

1.1. Rendering microfinancial services for financial support of small business entities, attraction them in business activity and employment of graduates of educational institutions, development of family entrepreneurship, business activity of women, home work, workmanship, personal subsidiary farms

1

Allocation of the microcredits for forming of the original capital for beginners business activity.

Allocation of the microcredits for up to
24 months for subjects of entrepreneurship
from the moment of which creation there passed no more than 6 months:


to subjects of entrepreneurship without formation of legal entity - to the 50-fold size of minimum wage;


to microfirms and Dehkan farms
(with the status of the legal entity), to members of needy families and graduates of educational institutions on development of business activity, family entrepreneurship, home work, workmanship, personal subsidiary farms - to the 100-fold size of minimum wage.

2017 - 2020.

JSB Mikrocreditbank, Chamber of Commerce and Industry

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