RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of May 18, 2006 No. 695

About approval of the Procedure for provision of soft credits for implementation of investment projects of implementation of energy-saving technologies and production technologies of alternative sources of fuel

In pursuance of article 117 of the Law of Ukraine "About the Government budget of Ukraine for 2006" the Cabinet of Ministers of Ukraine decides:

1. Approve the Procedure for provision of soft credits for implementation of investment projects of implementation of energy-saving technologies and production technologies of alternative sources of fuel which is applied.

2. To the Ministry of Finance to develop and approve the approximate agreement between the main manager of budgetary funds according to the appropriate program and national bank about assignment from the government budget in a month for preferential crediting of subjects of managing which implement investment projects of implementation of energy-saving technologies and production technologies of alternative sources of fuel.

Approved by the Resolution of the Cabinet of Ministers of Ukraine of May 18, 2006, No. 695

Procedure for provision of soft credits for implementation of investment projects of implementation of energy-saving technologies and production technologies of alternative sources of fuel

1. This Procedure determines procedure for granting national banks (further - banks) to subjects of managing of soft credits at the expense of means which are provided in the government budget (further - budgetary funds) for implementation of investment projects of implementation of energy-saving technologies and production technologies of alternative sources of fuel (further projects).

2. Budgetary funds for preferential crediting of subjects of managing which implement projects (further - preferential crediting), in borders of the amounts provided by the budget schedule are selected to banks on the terms of recoverability, the paid nature, urgency, target use and security.

3. The main manager of budgetary funds (further - the main manager) signs with each bank the agreement on assignment from the government budget for preferential crediting.

In the agreement conditions of transfer and return of means to the government budget, type and the amount of providing, percent for their use, banking liability for return of means to the government budget are determined.

4. it is excluded

5. The payment for use of budgetary funds for preferential crediting is established at the level of 6 annual interest rates.

6. The payment for use of soft credits is established at the level which does not exceed 10 annual interest rates.

The bank has no right to levy any commission charges connected with provision and servicing of soft credits.

7. Selection of projects is made by banks according to requirements of this Procedure in borders of the limits determined by the main manager for each bank from among projects on which NAER is issued positive conclusion about their efficiency regarding energy saving and compliance to the priority directions of energy saving which are determined and affirm the main manager taking into account offers of the central executive bodies providing realization of state policy in the respective areas of economy.

The specified conclusion is issued to the subject of managing of NAER within 14 calendar days from the moment of receipt of the project to it.

In case of need according to the decision of NAER the term of consideration of the project can be prolonged up to 10 calendar days.

The selected projects, loan agreements between banks and subjects of managing (further - loan agreements), the preliminary schedule of selection and return of means by banks to the government budget approve banks with the main manager.

8. Soft credits are granted for projects implementation which cost constitutes at least 100 thousand hryvnias. Banks in coordination with the main manager can perform crediting of projects of smaller cost.

9. Provision term to subjects of managing of soft credits for projects implementation cannot exceed three years. Return of soft credits begins in month from the moment of their obtaining. In coordination with the main manager the term with which return of soft credits begins can be continued up to one year.

10. Return of means by banks to the government budget, charge and interest payment for use of budgetary funds for preferential crediting are performed according to the procedure, determined in the agreement on assignment from the government budget for preferential crediting.

11. Interest for using soft credit are charged and paid in the subject of managing according to conditions of the loan agreement taking into account requirements of this Procedure.

12. The bank to the 20th, to prior month in which transfer of budgetary funds is planned submits to the main manager the register of loan agreements with their verified copies and the schedule of return of means to the government budget based on which the additional agreement between bank and the main manager is signed.

The main manager based on the additional agreement, the payment order and the register of the signed loan agreements allocates budgetary funds from the registration account for bank account for their further use on preferential crediting.

13. For ensuring fulfillment of requirements of this Procedure the main manager can form project management group with involvement of representatives of NAER.

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