of May 16, 2006 No. PP-350
About measures for the organization of activities of Fund of reconstruction and development of the Republic of Uzbekistan
According to the Presidential decree of the Republic of Uzbekistan of May 11, 2006 No. UP-3751 "About Creation of Fund of Reconstruction and Development of the Republic of Uzbekistan" and for the purpose of ensuring effective financing of priority investment projects:
1. Determine that:
executive body and the manager of fund is the executive directorate of Fund;
as a part of executive directorate of Fund the expert group responsible for issue of recommendations about financing of the corresponding projects is formed;
the chief executive Fonda is appointed to position and dismissed by the Cabinet of Ministers of the Republic of Uzbekistan, and according to the status is equated to the deputy minister;
content of executive directorate of Fund it is performed by fund based on the expense budget approved by Council for management of Fund.
2. Approve:
the extreme number of managerial personnel of executive directorate of Fund in number of 32 units.
Regulations on Fonda of reconstruction and development of the Republic of Uzbekistan, the principles of forming and use of fund according to appendix No. 2.
3. Determine that on monthly basis are enlisted in Fund:
other sources according to the legislation
Fund of reconstruction and development of the Republic of Uzbekistan is created in foreign currency on its accounts opened in the Central bank of the Republic of Uzbekistan;
The fund performs financing of commercial banks on the basis of the signed general agreements about financing terms and the mechanism of return of fund, taking into account efficiency and payback periods of the offered investment projects and the opened credit lines;
the interest rate for the credit resources provided by Fund is established in the differentiated sizes to 6 annual interest rates.
converting of the means in national currency arriving into accounts of Fund is performed at the current rate established at trading sessions of the Uzbek republican currency exchange on receipt date of funds with their subsequent transfer into the currency account of Fund;
the import contracts financed (co-financed) by fund are subject to examination according to the procedure, provided for the import contracts financed by means of the government budget;
loan granting and opening of credit lines of Fund of reconstruction and development of the Republic of Uzbekistan, and also restructuring of the credits and credit lines are performed only based on decisions of the President of the Republic of Uzbekistan.
5. For ensuring stability of assets of Fund and their profitability to the Central bank of the Republic of Uzbekistan on the basis of the general agreement with Fund about trust management to perform placement of free remaining balance of fund in highly liquid, reliable foreign financial instruments.
To the Ministry of Finance and Central bank of the Republic of Uzbekistan in a month:
develop and submit for approval of Council for management of Fund the instructive materials regulating procedure for placement of free remaining balance of Fund in foreign financial instruments, investment transactions including transfer of part of fund to management of the reliable external managing director;
develop and approve the Procedure for forming of fund of reconstruction and development of the Republic of Uzbekistan in the separate tax rates - as one of sources of Fund.
6. Place executive directorate of Fund in the building of National Bank of foreign economic activity of the Republic of Uzbekistan, having provided it with necessary means of communication.
Include executive directorate of Fund in the register of obligatory mailing of bulletins of statistical information of Goskomstat, Ministry of Finance, Ministry of Foreign Economic Relations, Investments and Trades, Goskomkonkurention of the Republic of Uzbekistan.
7. In a month to provide to the Ministry of Justice together with the Ministry of Finance, the Central bank of the Republic of Uzbekistan, other interested ministries and departments entering into the departmental regulations of change following from this resolution.
8. To impose control of execution of this resolution on the Prime Minister of the Republic of Uzbekistan Mirziyoyev Sh. M.
Prezidentrespubliki Uzbekistan
Islam Karimov
Appendix No. 1
to the Resolution of the President of the Republic of Uzbekistan of May 16, 2006 No. PP-350
Voided
to the Resolution of the President of the Republic of Uzbekistan of May 16, 2006 No. PP-350
1. The fund of reconstruction and development of the Republic of Uzbekistan (further Fund) is created by the Presidential decree of the Republic of Uzbekistan of May 11, 2006 No. UP-3751 "About Creation of Fund of Reconstruction and Development of the Republic of Uzbekistan" and is the financial institution under the Cabinet of Ministers designed to provide projects implementation on upgrade and modernization of leaders, first of all key branches of economy, to achievement of the dynamic, sustainable and balanced social and economic development of the country, and also implementation of effective structural and investment policy.
2. The fund performs the activities according to the Constitution of the Republic of Uzbekistan, the Laws of the Republic of Uzbekistan, resolutions of chambers of Oliy Majlis of the Republic of Uzbekistan, Decrees, Resolutions and orders of the President of the Republic of Uzbekistan, resolutions and orders of the Cabinet of Ministers of the Republic of Uzbekistan, other acts of the legislation of the Republic of Uzbekistan and this Provision.
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