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RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of November 30, 2021 No. PP-26

About subscription of the Republic of Uzbekistan to additional shares in the authorized capital of the International Bank for Reconstruction and Development and International Finance Corporation

For the purpose of further cooperation increase with the International Bank for Reconstruction and Development and the International Finance Corporation of group of the World Bank, and also preserving share of the Republic of Uzbekistan in the authorized capital of data of the international financial institutions in connection with their increase:

1. Take into consideration that Board of governors of the International Bank for Reconstruction and Development (further - IBRD), and also the International Finance Corporation (further - IFC) in 2018 makes the decision on increase in the authorized capital of data of the organizations and the organization of subscription of member countries to additional shares.

2. Approve the offer of the Ministry of Finance, Ministry of investments and foreign trade, and also the Ministry of Economic Development and reducing poverty on subscription to in addition 762 shares in total cost 91, of 92 million US dollars and in addition 12 781 shares total cost 12, of 78 million US dollars respectively in the authorized capital of IBRD and IFC.

3. To the ministry of investments and foreign trade in accordance with the established procedure to notify group of the World Bank on subscription of the Republic of Uzbekistan to additional shares of IBRD and IFC.

4. In accordance with the established procedure to issue to the Ministry of Justice the corresponding legal conclusion about subscription to additional shares of IBRD and IFC in the form acceptable for group of the World Bank.

5. Approve:

the schedule of implementation of payment from the Republic of Uzbekistan on purchase of additional 762 shares of the International Bank for Reconstruction and Development according to appendix No. 1;

the schedule of implementation of payment from the Republic of Uzbekistan on purchase of the additional 12 781 share of the International Finance Corporation according to appendix No. 2.

6. Determine that the additional shares of IBRD offered for payment the Republic of Uzbekistan cost 80, will be made by 45 million US dollars in accordance with the established procedure according to the notice of IBRD in case of need for the purpose of ensuring accomplishment of obligations by group of the World Bank to state members.

7. In accordance with the established procedure to provide to the ministry of investments and foreign trade:

subscription to the additional 762 and 12 781 share in the authorized capital of IBRD and IFC respectively;

implementation of payment of the Republic of Uzbekistan on purchase of additional shares in the authorized capital of IBRD and IFC according to the schedules approved by this resolution.

8. To the Ministry of Finance when forming the Government budget for 2022 - 2025 to provide allocation of sufficient funds for purchase of additional shares of IBRD and IFC.

9. To impose control of execution of this resolution on deputy prime ministers D. A. Kuchkarov and S. U. Umurzakov.

President of the Republic of Uzbekistan

Sh. Mirziyoev

 

Appendix No. 1

to the Resolution of the President of the Republic of Uzbekistan of November 30, 2021 No. PP-26

The schedule of implementation of payment from the Republic of Uzbekistan on purchase of additional 762 shares of the International Bank for Reconstruction and Development

Payment due date

Payment amount (in US dollars)

1.

2022

5 740 000

2.

2023

5 740 000

In total

11 480 000

Appendix No. 2

to the Resolution of the President of the Republic of Uzbekistan of November 30, 2021 No. PP-26

The schedule of implementation of payment from the Republic of Uzbekistan on purchase of the additional 12 781 share of the International Finance Corporation

Payment due date

Payment amount (in US dollars)

1.

2022

3 195 250

2.

2023

3 195 250

3.

2024

3 195 250

4.

2025

3 195 250

In total

12 781 000

 

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

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