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RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of May 1, 2020 No. PP-4701

About additional measures for improvement of housing conditions of the population and further expansion of the market of mortgage lending

For the purpose of improvement of housing conditions of the population, further market development of mortgage lending, broad involvement of private contract organizations to construction of housing and creation for them favorable conditions during counteraction to spread of koronavirusny infection:

1. Take into consideration that according to the Presidential decree of the Republic of Uzbekistan of November 28, 2019 No. UP-5886 "About Additional Measures for Enhancement of Mechanisms of Mortgage Lending" (further - the Decree):

the new procedure for providing the population with housing at the expense of mortgage loans on the basis of the market principles is implemented (further - new procedure);

allocation of mortgage loans on acquisition in the primary market of housing of apartments in the houses built by private contract organizations at the expense of own means and the credits of commercial banks is authorized.

2. Permit to allocate from May 1, 2020 to January 1, 2022 for the period to physical persons mortgage loans on acquisition in the primary market of housing of apartments in the houses built by private contract organizations without condition of "turnkey" delivery (without carrying out finishing works).

3. Increase the maximum sizes of the mortgage loans allocated to one borrower on acquisition in the primary market of housing of apartments in the houses built by private contract organizations without condition of "turnkey" delivery (without carrying out finishing works), and also apartments which construction is complete:

in the rural zone - for two-room apartments from 174 million sum to 240 million sum, apartments with three and more rooms from 224 million sum to 320 million sum;

in the cities - for two-room apartments from 180 million sum to 240 million sum, apartments with three and more rooms from 232 million sum to 320 million sum;

in the city of Tashkent - for two-room apartments from 198 million sum to 264 million sum, apartments with three and more rooms from 255 million sum to 352 million sum.

4. Extend from 15 to 20 years the term of the mortgage loans allocated to the population within new procedure (including the mortgage loans allocated till today).

5. To the Ministry of Finance of the Republic of Uzbekistan in week time to extend from 15 to 20 years the term of the credit resources placed within new procedure in commercial banks.

To commercial banks to extend from 15 to 20 years the term of the mortgage loans allocated within new procedure to physical persons in a month and also to make corresponding changes to the signed agreements.

6. Determine that:

the procedure and conditions provided in Items 2 - 4 presents of the resolution, are effective till January 1, 2022 and are applied in relation to the mortgage loans allocated according to new procedure at the expense of means of the Ministry of Finance of the Republic of Uzbekistan;

subsidies for compensation for expenses, connected with payment of part of the initial contribution on the mortgage loans allocated for acquisition of apartments, the provided in paragraphs three and the fourth Item 3 of this resolution are paid in the amount of 10 percent from the settlement cost of housing determined by the Ministry of Finance, the Ministry of Economic Development and reducings poverty and the Ministry of construction of the Republic of Uzbekistan.

7. Resolve, according to the procedure of experiment, allocation in the Andijan, Namangan and Fergana regions of the credits for construction and reconstruction of individual housing on the parcels of land provided to physical persons before adoption of this resolution at the expense of the credit resources allocated with the Ministry of Finance of the Republic of Uzbekistan to commercial banks under housing construction in the procedure established by the law.

At the same time the credits are allocated to physical persons:

in the amount of, not exceeding the maximum loan amount, the stipulated in Item 3 presents of the resolution, in the place of dislocation of the under construction (reconstructed) individual apartment house, with the initial contribution at least 10 percent from the cost of works on construction (reconstruction) of the individual apartment house for a period of 20 years;

by carrying out payments in non-cash form on deposit settlement accounts of private contract organizations for the works on construction (reconstruction) of the individual apartment house performed by them on the basis of the projects approved and approved in accordance with the established procedure.

8. To the Ministry of Economic Development and reducings poverty together with the Ministry of Finance, the Ministry of construction and the Central bank of the Republic of Uzbekistan till December 1, 2020, proceeding from results of the experiment made in the Andijan, Namangan and Fergana regions to make offers on support of individual housing construction in the Cabinet of Ministers.

9. Resolve in 2020-2021 to Council of Ministers of the Republic of Karakalpakstan, khokimiyats of areas and the city of Tashkent for the purpose of targeted support of the citizens needing improvement of housing conditions at the expense of the exceeded part of the income of local budgets to increase the quantity of subsidies established by the Decree for the respective regions - in 1,3 of time, the amount of subsidies - up to 40 percent.

10. Establish procedure according to which for the period from May 1 to December 31, 2020 the State fund of support of business activity for the credits of commercial banks in national currency allocated within new procedure to private contract organizations for construction of the four-storeyed and having more than four floors of apartment houses in the cities and the rural zone and also the seven-story and having more than seven floors of apartment houses in the city of Tashkent:

the guarantee at the rate to 50 percent from credit amount, but no more than 8 billion sum is issued;

compensation on covering of part of the interest rate exceeding the main rate of the Central bank of the Republic of Uzbekistan, but no more than 10 percent points for the credits for the amount no more than 20 billion sum, is paid by the interest rate which is not exceeding 1, the 75-fold size of the main rate of the Central bank of the Republic of Uzbekistan.

At the same time the guarantee and compensation are provided when implementing construction of apartment houses taking into account average market value of one square meter of the apartment in the respective region and space allowances of two-room apartments, and also the apartments with three and more rooms determined by the Ministry of Finance, the Ministry of Economic Development and reducings poverty and the Ministry of construction of the Republic of Uzbekistan.

11. To the Cabinet of Ministers of the Republic of Uzbekistan (A. N. Aripov) in two weeks within new procedure to take measures for exposure to electronic auction of United electronic market place "E-IJRO AUKSION" of the parcels of land for construction of apartment houses in the cities.

12. To the Ministry of Finance together with the Ministry of Justice, and also the interested ministries and departments to make in the Cabinet of Ministers offers on the changes and amendments in the legislation following from this resolution in a month.

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