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RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of December 15, 2023 No. PP-394

About measures for financial support of activities of JSC The Company on Refinancing of Mortgage of Uzbekistan

For the purpose of ensuring execution of the Presidential decree of the Republic of Uzbekistan of April 13, 2023 No. UP-51 "About Measures for Program Implementation of Providing the Population with Housing by means of Mortgage Loans on the basis of the Market Principles for 2023", and also expansions of access of the population to mortgage loans:

1. Approve the offer of the Ministry of Economics and finance and shareholders of JSC The Company on Refinancing of Mortgage of Uzbekistan (further - the Company) on increase in the authorized capital of the Company in sizes according to appendix No. 1.

2. Determine that:

the means which are subject to return for repayment of the budget advance at the rate to 300 billion sum allocated to the Company according to the resolution of the President of the Republic of Uzbekistan of September 22, 2022 No. PP-377 "About measures for creation of additional conveniences to the population when using mortgage loans" go for increase in share of the state in the authorized capital of the Company;

increase according to this resolution of the authorized capital of the Company is performed by release and placement at par value of additional shares in accordance with the established procedure.

3. Make changes to the resolution of the President of the Republic of Uzbekistan of September 22, 2022 No. PP-377 "About measures for creation of additional conveniences to the population when using mortgage loans" according to appendix No. 2.

4. To impose control of execution of this resolution on the deputy prime minister of the Republic of Uzbekistan D. A. Kuchkarov.

President of the Republic of Uzbekistan

Sh. Mirziyoev

 

Appendix No. 1

to the Resolution of the President of the Republic of Uzbekistan of December 15, 2023 No. PP-394

Procedure for increase in the authorized capital of JSC The Company on Refinancing of Mortgage of Uzbekistan

(one billion bags.)

Shareholders

Authorized capital

(as of November 1, 2023)

Amount of additional investment

Authorized capital

(as of June 1, 2024)

cost

share, %

cost

share, %

In total

132,79

100,0

808,1

940,89

100,0

1.

State share (Agency on management of the state assets)

33,2

25,0

300,0 *

333,2

35,4

2.

AKIB "Ipoteka-bank"

26,6

20,0

5,0

31,6

3,4

3.

JSB Bank razvitiya businessa

13,3

10,0

48,8

62,1

6,6

4.

JSC Uznatsbank

13,3

10,0

89,0

102,3

10,9

5.

JSB Uzpromstroybank

10,6

8,0

20,0

30,6

3,3

6.

JSC Hulk banki

9,3

7,0

76,1

85,4

9,1

7.

JSC Asakabank

6,6

5,0

54,4

61,0

6,5

8.

JSB Agrobank

6,6

5,0

66,4

73,0

7,8

9.

JSB Turonbank

4,0

3,0

32,6

36,6

3,9

10.

JSB Oriyent finance bank

4,0

3,0

22,0

26,0

2,8

11.

JSB Hamkorbank

2,7

2,0

21,8

24,5

2,6

12.

JSB Kapitalbank

1,3

1,0

1,3

0,1

13.

JSB Invest finance bank

1,3

1,0

1,3

0,1

14.

JSB Alokabank

36,0

36,0

3,8

15.

JSB Mikrocreditbank

36,0

36,0

3,8

* Will be directed at the expense of the means which are subject to return for repayment of the budget advance allocated to the Company according to the resolution of the President of the Republic of Uzbekistan of September 22, 2022 No. PP-377 "About measures for creation of additional conveniences to the population when using mortgage loans".

Appendix No. 2

to the Resolution of the President of the Republic of Uzbekistan of December 15, 2023 No. PP-394

The changes made to the resolution of the President of the Republic of Uzbekistan of September 22, 2022 No. PP-377 "About measures for creation of additional conveniences to the population when using mortgage loans"

1. State Item 5 in the following edition:

"5. Approve the offer of the Ministry of Economics and finance on allocation of JSC The Company on Refinancing of Mortgage of Uzbekistan (further - the Company) budget advance to 300 billion sum at the expense of the raised funds of international financial institutions for support of the Government budget for a period of 3 years at the rate of 12 percent with condition of implementation of interest payments each 6 months for refinancing of mortgage loans allocated or allocated by commercial banks to the population.

At the same time:

resources are placed the Company in commercial banks with margin no more than 1 percent;

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