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The document ceased to be valid since  May 25, 2018 according to Item 2 of the Presidential decree of the Republic of Uzbekistan of  May 24, 2018 No. UP-5447

RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of March 10, 2009 No. 61

About approval of the Regulations on procedure for opening by Fund of reconstruction and development of the Republic of Uzbekistan of credit lines to commercial banks for joint financing of investment projects

(as amended on 12-02-2018)

For the purpose of providing the accelerated program implementation of upgrade, technical and technological rearmament of the companies of real production sector, and also expansion of investment activity of commercial banks and other business entities the Cabinet of Ministers decides:

1. Approve Regulations on procedure for opening by Fund of reconstruction and development of the Republic of Uzbekistan of credit lines to commercial banks for joint financing of investment projects according to appendix.

2. To the Ministry of Finance, the Central bank together with the Ministry of Justice of the Republic of Uzbekistan to bring departmental regulations into accord with this resolution.

3. To impose control of execution of this resolution on the First 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 of the Republic of Uzbekistan
Shavkat Mirziyoyev

Appendix

to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of March 10, 2009 No. 61

Regulations on procedure for opening by Fund of reconstruction and development of the Republic of Uzbekistan of credit lines to commercial banks for joint financing of investment projects

I. General provisions

1. This Provision according to the Resolution of the President of the Republic of Uzbekistan 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" determines procedure for opening by Fund of reconstruction and development. The Republic of Uzbekistan (further - Fund) credit lines to commercial banks for joint financing of investment projects, and also conditions and procedure for selection, conducting examination and financing of investment projects within the opened credit lines.

2. Credit lines of Fund open to commercial banks which list affirms the decision of Council for management of Fund, (further - commercial banks), on urgent, paid and returnable basis.

The fund opens credit lines with condition of the target direction of funds for refinancing of the cost-efficient investment projects which are important for upgrade of priority industries of economy.

Means of credit lines of Fund are used, as a rule, for acquisition of modern foreign technologies and the equipment for export-oriented and import-substituting productions.

3. Joint financing of the investment projects realized with use of credit lines of Fund (further - investment projects), is performed in case of observance of the following conditions:

the loans are granted to borrowers in foreign currency for a period of up to 7 years;

the borrower's share in financing of the investment project at the expense of own means shall constitute at least 25 percent from the cost of the investment project;

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