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PRESIDENTIAL DECREE OF THE REPUBLIC OF UZBEKISTAN

of February 26, 2021 No. UP-6179

About cardinal enhancement of activities of Fund of the state support of agricultural industry under the Ministry of Economics and finance of the Republic of Uzbekistan

(as amended on 12-12-2023)

For the purpose of development of agricultural industry in the country, financings of all directions of the agrarian sphere, ensuring price stability in the domestic market, creations of chain of high value added, mechanization of the agrarian sphere, and also widespread introduction of the market principles in production, purchase and product sales:

1. Approve the offer of the Ministry of Economic Development and reducing poverty, the Ministry of Finance and Ministry of Agriculture on raising on the new activity level of Fund of the state support of agricultural industry under the Ministry of Economics and finance (further - Fund) for the purpose of expansion of implementation of additional mechanisms and financial resources of financing of agricultural industry.

2. Ceased to be valid according to the Presidential decree of the Republic of Uzbekistan of 12.12.2023 No. UP-205

3. Ceased to be valid according to the Presidential decree of the Republic of Uzbekistan of 08.08.2022 No. UP-183

4. Allocate since 2021 to Fund funds from the republican budget of the Republic of Uzbekistan for financing:

losses owing to change of course of currency exchange on the attracted foreign loans;

compensations paid on covering of part of interest rate for the commercial credits allocated to agricultural enterprises for cotton cleaning;

negative difference between interest rates of the funds raised for elimination of financial deficit including budget advance, and the resources placed in commercial banks for financing of expenses on production of agricultural products.

To the Ministry of Finance to finance the funds allocated for the purposes provided in this Item, in 2021 at the expense of additional sources of the republican budget of the Republic of Uzbekistan since 2022 - to provide in parameters of the Government budget.

5. Determine the main objectives of Fund:

payment of compensation for covering of part of interest rate for the commercial credits allocated in national currency for final settlement on purchase of seed cotton;

financing of expenses on cultivation of fruit, grapes, vegetables, potatoes, melon cultures, flowers, greens and drug plants, grains of corn, bean and oil-bearing crops;

placement of resources in commercial banks for financing of purchase of agricultural products;

purchase at the market price and exposure to the exchange biddings of wheat in the amount necessary for ensuring price stability on grain and grain products in the domestic market;

state support of delivery to farms and other agricultural organizations of modern highly effective agricultural machinery;

implementation of modern information and communication technologies in system of financing of agricultural industry and calculation;

studying and implementation in the republic of experience of financing of the agrarian sphere of the developed states;

the organization of permanent monitoring of efficiency of use of the funds allocated by Fund and financial condition of clusters.

6. Determine that:

a) the main sources of forming of fund are:

receipts from return of the credit resources placed in commercial banks in target procedure and for financing of delivery of agricultural machinery to the leasing organizations on the terms of leasing, and also borrowed funds and interest payments added on them;

the positive difference formed between the purchase price (including expenses on purchase, storage, transportation and realization) and sales price of wheat acquired by Fund;

the funds allocated from the republican budget of the Republic of Uzbekistan for covering of losses owing to change of course of currency exchange on the attracted foreign loans;

the attracted loans, including the foreign credits and investments, grants of the international financial institutions and means of the donor organizations;

the income arriving from investment of funds of Fund on deposits in commercial banks;

interest expenses when purchasing agricultural machinery on the terms of leasing or the credit, and also the funds allocated from the republican budget of the Republic of Uzbekistan for payment of subsidies for acquisition of agricultural machinery and compensation of transportation expenses for transportation of combines for rendering services abroad (export of services);

the funds allocated from the republican budget of the Republic of Uzbekistan for covering of negative difference between interest rates of the funds raised for elimination of financial deficit including budget advance and the resources placed in commercial banks for financing of expenses on production of agricultural products;

the funds raised from budgets of budget system;

other sources which are not prohibited by the legislation;

b) fund is spent for the following purposes:

placement in commercial banks of resources for financing of expenses on cultivation of seed cotton, wheat, fruit, grapes, vegetables, potatoes, melon cultures, flowers, greens and drug plants, grains of corn, bean and oil-bearing crops and collection of cotton, and also purchase of agricultural products;

purchase together with the commercial representative of wheat from the foreign states for ensuring price stability in the domestic market based on the offer of Republican council on coordination of widespread introduction of the market principles in production, purchase and realization of grain;

return of the attracted budget advance, the credits and percent added on them;

covering of all expenses on the attracted foreign loans in foreign and national currency, and also losses owing to change in the exchange rate of currencies and interest payments;

payment of interest expenses when purchasing agricultural machinery on the terms of leasing or the credit, and also subsidies for acquisition of agricultural machinery in the amount of, established by the legislation;

payment of compensations for transportation expenses for transportation of combines for rendering services abroad (export of services) in the amount of, established by the legislation;

covering of losses owing to the negative difference formed between the purchase price (including expenses on purchase, storage, transportation and realization) and sales price of wheat acquired by Fund;

financing of maintenance costs of Department on management of Fund of the state support of agricultural industry under the Ministry of Finance;

c) control of target use of fund is exercised by Inspection of the state financial control under the Ministry of Finance.

7. Determine that:

in relation to all accounts of Fund, including the corresponding bank accounts by means of which operations on current assets of Fund are performed rationing arrangements are not applied;

in case of not return of fund at the scheduled time they are collected by Fund based on the collection order.

8. Approve structure of Council of Fund of the state support of agricultural industry under the Ministry of Finance according to appendix No. 1.

Determine the main objectives of Council of Fund:

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