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The document ceased to be valid since  April 18, 2020 according to Appendix 2 to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of January 16, 2020 No. 30

RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of August 20, 2007 No. 178

About approval of the Regulations on procedure for provision to farms and other subjects of small business of soft credits and leasing services for acquisition of mini-technologies and the compact equipment in conversion of fruit and vegetable and livestock products

(as amended of the Presidential decree of the Republic of Uzbekistan of 07.04.2014 No. UP-4609)

For the purpose of expansion of access of farms and other subjects of small business to credit resources and leasing services for acquisition of mini-technologies and the compact equipment in conversion of fruit and vegetable and livestock products the Cabinet of Ministers decides:

1. Approve Regulations on procedure for provision to farms and other subjects of small business of soft credits and leasing services for acquisition of mini-technologies and the compact equipment in conversion of fruit and vegetable and livestock products according to appendix.

2. To impose control over the implementation of this resolution on the Deputy prime minister of the Republic of Uzbekistan Azimov R. S. and the Chairman of the Central bank of the Republic of Uzbekistan Mullazhanov F. M.

 

Prime Minister

Republic of Uzbekistan Sh. Mirziyoyev

Appendix

to the resolution of the Cabinet of Ministers of the Republic of Uzbekistan of August 20, 2007 No. 178

Regulations on procedure for provision to farms and other subjects of small business of soft credits and leasing services for acquisition of mini-technologies and the compact equipment in conversion of fruit and vegetable and livestock products

I. General provisions

1. This Provision regulates procedure for provision by commercial banks of soft credits and leasing services to farms and other subjects of small business - legal entities (further - to farms and other subjects of small business) for acquisition of mini-technologies and the compact equipment on conversion of fruit and vegetable and livestock products.

Action of this provision (except for the Section III) does not extend to microcredit and rendering microleasing services to farms and other subjects of small business for acquisition of mini-technologies and the compact equipment on conversion of fruit and vegetable and livestock products.

2. Soft credits and leasing services for acquisition of mini-technologies and the compact equipment (further in the text - soft credits and leasing services) are provided to farms and other subjects of small business on conversion of fruit and vegetable and livestock products by commercial banks in which their main on-demand deposit accounts are open.

3. Soft credits and leasing services are provided on the terms of recoverability, the paid nature, security, target use and urgency, except as specified, stipulated in Item the 17th this provision.

4. Soft credits for acquisition of mini-technologies and the compact equipment on conversion of fruit and vegetable and livestock products (further in the text - soft credits) are granted to farms and other subjects of small business for the term of at least 5 years, including the grace period constituting at least 18 months.

5. Leasing services for acquisition of mini-technologies and the compact equipment in conversion of fruit and vegetable and livestock products are provided to farms and other subjects of small business for the term of 7 years.

6. Interest rate for the soft credits issued for the account:

means of special funds of preferential crediting of the banks created according to the resolution of the Cabinet of Ministers of May 19, 2000 N195 "About Additional Measures for Stimulation of Participation of Commercial Banks in Development of Small Business" it is established in the amount of no more than 50 percent of refunding rate of the Central bank of the Republic of Uzbekistan on the date of issuance of credit;

other own and raised funds of bank, it is established under the mutual agreement between bank and farm or other subject of small business, but in the amount of, not exceeding effective rate of Central Bank refinancing of the Republic of Uzbekistan.

7. The interest rate for leasing is established under the mutual agreement between bank and farm or other subject of small business, but in the amount of, not exceeding effective rate of Central Bank refinancing of the Republic of Uzbekistan.

8. Repayment of principal debt on soft credits begins since the month following upon termination of grace period.

9. To the farms or other subjects of small business working it is unprofitable and having illiquid balance, soft credits and leasing services are not provided, and earlier granted soft credits and leasing services are subject to early collection in the procedure established by the agreement. This condition shall be without fail stipulated in the credit agreement.

10. Issue of soft credits at the expense of credit lines of the international financial institutions is performed in accordance with the terms of the credit agreements signed between commercial banks of the Republic of Uzbekistan and the international financial institutions.

II. Provision of soft credits and leasing services

11. The farm or other subject of small business for receipt of soft credits together with the credit request submits the following documents to commercial bank:

the business plan with obligatory specifying of the forecast of cash flows for all term of soft credit;

the balance sheet for the last accounting period with mark of the state tax authorities in place of registration of the potential borrower about acceptance of balance, the certificate of debit and creditor debts, and also acts of reconciliations on debt more than 90 days;

document on provision of one or several types of ensuring credit recovery.

12. The farm or other subject of small business for obtaining on preferential basis in leasing of mini-technology and the compact equipment on conversion of fruit and vegetable and livestock products represents to commercial bank together with the request the following documents:

technical and economic indicators of object of leasing and data on his seller;

the business plan with indication of the forecast of cash flow for all term of preferential leasing;

the balance sheet for the last accounting period with mark of the state tax authorities in place of registration of the potential borrower about acceptance of balance, the certificate of debit and creditor debts, and also acts of reconciliations on debt more than 90 days.

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