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RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of November 12, 2021 No. PP-9

About measures for project implementation "Financial support of small and medium business" with participation of Development bank of Germany

According to the Strategy of development of agricultural industry of the Republic of Uzbekistan for 2020 - 2030, and also for the purpose of support of all sectors of economy, including subjects of entrepreneurship in the field of agricultural industry, and further cooperation increase with Development bank of Germany (further - KfW):

1. Take into consideration that:

a) according to the agreement on financial cooperation between the Republic of Uzbekistan and the Federal Republic of Germany loan and grant agreements on allocation of the credit on rate 2 annual interest rates for the term of 30 years, including grace period of 10 years, for financing of the "Financial Support of Small and Medium Business" project in the Republic of Uzbekistan are signed (further - the Project) from KfW;

b) the total cost of the Project is determined in the amount of 29, by 8 million euros, from them:

the credit of KfW constitutes 26, 8 million euros;

the grant of KfW constitutes 3, 0 million euros for the consulting services connected with project implementation;

c) the project deadline constitutes 4 years (2021 - 2024).

2. Determine that:

The project is implemented in the Republic of Karakalpakstan and in all areas;

The Ministry of Agriculture is the executive body responsible for timely and complete realization, coordination and project management, and also conducting monitoring and the reporting in implementation process of the Project;

means of subsidiary loan are provided to the financial organizations participating within the Project in currency of the Republic of Uzbekistan and euro. The financial losses resulting from change in the exchange rate of foreign currency in relation to national currency are compensated at the expense of the republican budget of the Republic of Uzbekistan.

3. Approve:

The main indicators of the "Financial Support of Small and Medium Business" project and the schedule of use of means according to appendix No. 1;

The forecast repayment schedule of the credit of KfW and payment for it of interest payments within the "Financial Support of Small and Medium Business" project according to appendix No. 2;

"Road map" on project implementation "Financial support of small and medium business" with participation of the German development bank according to appendix No. 3.

4. To the Ministry of Agriculture together with the Ministry of investments and foreign trade, the Ministry of Finance and the Central bank in coordination with KfW in a month to develop and approve Regulations on procedure for use of the credit of KfW with determination of selection criteria of the participating financial organizations, terms and financing terms of the credit allocated within the Project (taking into account currency risks), and also selection criteria and assessment of subprojects.

5. To the Ministry of Finance provide borrowed funds of KfW to the financial organizations participating in the Project:

in case of loaning up in currency of the Republic of Uzbekistan - at the rate not below the main rate of the Central bank;

in case of loaning up in euro - in the amount of, not exceeding 25 percent of rate of the attracted loan, with margin of the Republic of Uzbekistan.

6. Assign to the Minister of Agriculture, the Chairman of the board of Ministers of the Republic of Karakalpakstan and hokim of areas the personal responsibility for providing the conditions necessary for effective implementation of actions within the Project, and also the timely organization of preparation, submission of reports and necessary documents according to requirements of KfW and acts of the legislation of the Republic of Uzbekistan.

7. Agree with the offer of the Ministry of Agriculture on accomplishment by the consultants hired on contractual basis for the tender organized according to the KfW procedures for accomplishment of the tasks connected with regular studying of efficiency of projects implementation of the subjects of entrepreneurship financed within the Project, providing necessary consultations and rendering the practical help in the problem resolution of subjects of entrepreneurship, and also connected with establishing other works on implementation of permanent monitoring at the expense of grant means of KfW.

8. Authorize the Minister of Finance to sign agreements on loaning up between the Ministry of Agriculture and the financial organizations participating in the Project, the Minister of Agriculture - to sign on behalf of the Republic of Uzbekistan the free standing agreement on project implementation on the basis of loan and grant agreements with KfW. At the same time it is allowed to make changes and additions to these agreements, if necessary.

9. In accordance with the established procedure to issue to the Ministry of Justice the legal conclusions under loan and grant agreements between the Republic of Uzbekistan and KfW.

10. Assign to the financial organizations participating in the Project, tasks of control of the credit line, ensuring timely development and target use of the credit of KfW, and also accounting and monitoring of realization of subprojects.

To the Ministry of Agriculture following the results of every quarter to bring in the Cabinet of Ministers and the Ministry of Finance and to regularly publish the report on the financed subprojects, results of monitoring of their timely and effective realization on the official website.

11. Assign to the Minister of Agriculture Zh. A. Hodzhayev and the Minister of Finance T. A. Ishmetov the personal responsibility for the effective organization of execution of this resolution.

Discussion of course of execution of this resolution, implementation of coordination and control of activities of the departments responsible for its execution to assign to deputy prime ministers S. U. Umurzakov, D. A. Kuchkarov and Sh. M. Ganiyev.

President of the Republic of Uzbekistan

Sh. Mirziyoev

 

Appendix No. 1

to the Resolution of the President of the Republic of Uzbekistan of November 12, 2021 No. PP-9

Main indicators of the "Financial Support of Small and Medium Business" project and schedule of use of means







thousands of euros

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