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RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of July 13, 2007 No. 143

About procedure for servicing of the institutional loan granted by the International Bank for Reconstruction and Development

(as amended on 11-09-2014)

In pursuance of the resolution of the Cabinet of Ministers of the Republic of Uzbekistan of January 26, 1994 No. 37 "About measures for use of the institutional credit allocated by the International Bank for Reconstruction and Development and grant of the Government of Japan" and also for the purpose of timely servicing of the institutional loan granted according to the Agreement on provision of the institutional credit signed between the Republic of Uzbekistan and the International Bank for Reconstruction and Development of August 31, 1993, the Cabinet of Ministers decides:

1. Approve Regulations on procedure for servicing of the institutional loan granted by the International Bank for Reconstruction and Development according to appendix.

2. Provide to the Ministry of Finance timely servicing of the institutional credit according to the approved Provision.

3. Control of execution of this order to assign to the Deputy prime minister of the Republic of Uzbekistan Azimov R. S.

Prime Minister of the Republic of Uzbekistan

Sh. Mirziyoyev

Appendix

to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of July 13, 2007 No. 143

Regulations on procedure for servicing of the institutional loan granted by the International Bank for Reconstruction and Development

This Provision is developed according to the resolution of the Cabinet of Ministers of the Republic of Uzbekistan of January 26, 1994 No. 37 "About measures for use of the institutional credit allocated by International bank of rkonstruktion and development and grant of the Government of Japan" and determines procedure for servicing and repayment of the borrowed funds provided on the institutional credit by the International Bank for Reconstruction and Development (further - IBRD).

Means of the institutional credit on behalf of the Government of the Republic of Uzbekistan are mastered in full by Department on coordination of foreign trade activities of the Cabinet of Ministers (now - SIAD concerning economy and VES of the Cabinet of Ministers), the Ministry of Finance, the Central bank, the Ministry of macroeconomic and statistics (The Ministry of Economics and the State committee of statistics of the Republic of Uzbekistan), the State Property Committee, the Uzbek agency of mail and telecommunication (The state committee of communication, informatization and telecommunication technologies of the Republic of Uzbekistan), the Ministry of Labour (The Ministry of Labour and Social Protection of the Republic of Uzbekistan) and Consolidation on foreign economic relations of Uzvneshneftegaz (JSC Uztashkineftegaz). Means of the institutional credit are used within the project aimed at the institutional development of the specified ministries and departments for creation of regulatory framework in the field of privatization and the oil and gas industry, carrying out research works and development of the legislation on key branches of economy, institutional strengthening of the Ministry of Labour, Central bank of the Republic of Uzbekistan, bodies of statistics, and also implementation of software).

I. Determinations

1. For the purpose of this provision the following terms and concepts are used:

the institutional credit - means in foreign currency in the amount 21, 0 mln. dollars of the USA provided to IBRD according to the agreement between the Republic of Uzbekistan and the International Bank for Reconstruction and Development of August 31, 1993;

the creditor - the Ministry of Finance of the Republic of Uzbekistan;

the borrower (borrowers) - SIAD concerning economy and VES of the Cabinet of Ministers, the Ministry of Finance, the Central bank, the Ministry of Economics, Goskomstat, the State Property Committee, the State committee of communication, informatization and telecommunication technologies of the Republic of Uzbekistan, the Ministry of Labour and Social Protection and JSC Uztashkineftegaz;

the period of charge of percent - the period consisting of six months (the actual number of days within six months), which is beginning with interest payment date and principal debt and coming to an end in the day preceding the following interest payment date and principal debt;

percent - the amount estimated in foreign currency on the amount of the actual remaining balance of the credit for use by it till loan repayment period;

interest rate - determined by IBRD before start date of the next period of charge of percent and applied during the period of charge of percent;

payments on the institutional credit - the amount of principal debt, percent and other payments;

the penalty fee - is charged in case of delay of payments on institutional loan in the amount of 0,04 of % of the amount of overdue payments (on principal debt, percent) for each day of delay. At the same time the amount of the added penalty fee shall not exceed 50% of the amount of overdue payment;

the repayment schedule of the institutional credit - appendix to this Provision. The schedule is constituted in accordance with the terms and the repayment periods of the institutional credit specified in the Agreement on the provision of the institutional credit signed between the Republic of Uzbekistan and the International Bank for Reconstruction and Development of August 31, 1993;

payment date of payments on institutional loan - payment date of payments on repayment of principal debt and percent, determined in the repayment schedule of the institutional credit according to appendix to this Provision. If any of the specified dates gets on non-working day, then payments are transferred to the next first working day;

date of the actual payment - date of actual receipt of funds for the special account of the Ministry of Finance;

the special account - the account opened by the Ministry of Finance in national currency in the Central bank for accumulation of the means received from borrowers.

II. General provisions

2. Means of the institutional credit are mastered in full on project implementation, and obligations on its repayment are distributed in proportion to the amount of borrowed funds used by each of borrowers.

3. Repayment of the institutional credit (including principal debt, percent) is performed in full at the expense of means of the government budget, with the subsequent return of JSC Uztashkineftegaz at the expense of own means and the State committee of communication, informatization and telecommunication technologies of the Republic of Uzbekistan - by fund of development of information and communication technologies and other sources in amount of undertaken obligations according to the schedule according to appendix to this Provision.

4. Repayment of the institutional credit utilized by the Central bank of the Republic of Uzbekistan is performed from the reserve fund created by profit of the Central bank by results of each financial year according to the procedure, established by the legislation, according to the schedule according to appendix to this Provision.

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