RESOLUTION OF THE CABINET OF MINISTERS OF THE KYRGYZ REPUBLIC

of May 31, 2022 No. 286

About questions of activities of National bank of development of the Kyrgyz Republic

For the purpose of implementation of the National development program of the Kyrgyz Republic till 2026 approved by the Presidential decree of the Kyrgyz Republic of October 12, 2021 No. 435, according to the Law of the Kyrgyz Republic "About National bank of development of the Kyrgyz Republic", being guided by articles 13, of the 17th constitutional Law of the Kyrgyz Republic "About the Cabinet of Ministers of the Kyrgyz Republic", the Cabinet of Ministers of the Kyrgyz Republic decides:

1. Create "National Bank of Development of the Kyrgyz Republic" open joint stock company (further - JSC National Bank of Development of the Kyrgyz Republic) with absolute participation of the state in its authorized capital.

2. To fund for management of state-owned property under the Ministry of Economy and Trade of the Kyrgyz Republic in accordance with the established procedure:

1) to act as the founder of JSC National Bank of Development of the Kyrgyz Republic, having determined its authorized capital in the amount of 2000000000 (two billion) som by release and payment of 2000000 (two million) pieces of common nominal shares by nominal value of one share of 1000 (one thousand) som;

2) to approve the charter of the created JSC National Bank of Development of the Kyrgyz Republic in coordination with the Ministry of Economy and Trade of the Kyrgyz Republic;

3) to make state registration of JSC National Bank of Development of the Kyrgyz Republic in judicial authorities of the Kyrgyz Republic;

4) to take other necessary measures following from this resolution.

3. To the Ministry of Finance of the Kyrgyz Republic:

1) to find and allocate in coordination with Committee on the budget, economic and fiscal policy of Jogorku Kenesh of the Kyrgyz Republic money in the amount of 2000000000 (two billion) som to Fund for management of state-owned property under the Ministry of Economy and Trade of the Kyrgyz Republic for forming of the authorized capital of JSC National Bank of Development of the Kyrgyz Republic;

2) to bring the size of the authorized capital to 5000000000 (five billion) som till 2023;

3) in accordance with the established procedure to introduce the bill of the Kyrgyz Republic "About introduction of amendments to the Law of the Kyrgyz Republic "About the republican budget of the Kyrgyz Republic for 2022 and the forecast for 2023-2024".

4. To Administration of the President of the Kyrgyz Republic to resolve issue of placement of JSC National Bank of Development of the Kyrgyz Republic in the state office building located in the city of Bishkek on terms of the contract of free use with payment of municipal and operating costs.

5. To impose control of execution of this resolution on management of control of execution of decisions of the President and the Presidential Administration Cabinet of Ministers of the Kyrgyz Republic.

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