RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of January 11, 2012 No. PP-1683

About first-priority measures for program implementation of mnogotranshevy financing of the "Development of Housing Construction in the Rural Zone" project with participation of Asian Development Bank

For the purpose of further implementation of complex building of rural settlements according to master plans, expansions of construction of modern individual housing according to the approved standard projects, engineering communications, objects of social infrastructure in the rural zone and on this basis of cardinal improvement of quality of life of rural population:

1. Take into consideration that:

The board of directors of the Asian Development Bank (ADB) approves on August 31, 2011 the Program of mnogotranshevy financing of the "Development of Housing Construction in the Rural Zone" project for total amount 500, by one million US dollars from which borrowed funds in the amount of 498, 16 million US dollars are allocated for realization of the "Credit Line for Provision of Mortgage Loans" component and 1, by 84 million US dollars - for realization of the "Development of Potential and Support in Project Management" component;

in accordance with the terms of the prisoner between the Republic of Uzbekistan and ABR of the Framework agreement on financing within the Program of the "Development of Housing Construction in the Rural Zone" project of July 29, 2011 financing is performed by three tranches - loans;

the management of ABR approves on September 9, 2011 provision of loan of the first tranche of the Program in the amount 160, by 0 million US dollars from the ABR regular capital resources, with repayment period of 18 years, including three-year grace period;

loans of the first, second and third tranches of the Program are allocated from the ABR regular capital resources in process of preparation and submission to ABR of the corresponding requests for periodic financing and approvals them with management of ABR;

the period of project implementation is determined within 4 years (2012-2015).

2. Determine that:

the executive body responsible for general coordination of project implementation "Development of housing construction in the rural zone", target and effective use of borrowed funds, and also realization of the "Development of Potential and Support in Project Management" component is the Ministry of Economics of the Republic of Uzbekistan;

sales agents of the "Credit Line for Provision of Mortgage Loans" component at the expense of loan of the first tranche is OAKB "Kishlok Kurilish Bank", at the expense of loans of the second and third tranches - OAKB "Kishlok Kurilish Bank" and other commercial banks of the Republic of Uzbekistan which are selected during preparation of the corresponding trenches.

3. Determine that:

loans on tranches of the Program are granted the Republic of Uzbekistan based on loan agreements between the Republic of Uzbekistan and ABR;

borrowed funds in the amount 498, of 16 million US dollars, including 159, 6 million US dollars from loan of the first tranche, are refinanced to the participating commercial banks based on agreements on loaning up, in national currency of the Republic of Uzbekistan for a period of 18 years, including three-year grace period with the interest rate determined in the relevant agreements on loaning up;

repayment of loan of the first tranche of ABR, and also interest payment and the commissions on it are performed at the expense of means of OAKB "Kishlok Kurilish Bank" and means of the Government budget of the Republic of Uzbekistan;

issuance of credits to physical persons for individual housing construction according to the approved standard projects is performed in the amount to the 1000-fold size of minimum wage, for up to 15 years, including 1-year grace period, with interest rate of 7 annual interest rates;

withdrawal of the parcel of land to the individual builder in the life inherited tenancy is drawn up by the solution of hokim of the area (city) without carrying out biddings, after the conclusion of the contract between the individual builder and IK "Kishlok Kurilish Investment" for implementation of functions of the customer by it on housing construction according to the approved standard projects on a turnkey basis.

4. Approve:

the funding plan of the "Development of Housing Construction in the Rural Zone" project according to appendix No. 1 (is not given);

the package of measures for further project implementation "Development of housing construction in the rural zone" for 2012 - 2015 according to appendix No. 2 (is not given);

the repayment schedule of loan of the first tranche of the Program and interest payment and the commissions on it for project implementation "Development of housing construction in the rural zone" according to appendix No. 3 (is not provided);

the scheme of distribution and repayment of loan of the first tranche of ABR on the "Development of Housing Construction in the Rural Zone" project according to appendix No. 4 (is not provided).

5. Authorize the Minister of Finance of the Republic of Uzbekistan to sign on behalf of the Republic of Uzbekistan:

loan agreement with ABR;

agreement on loaning up of loan of the first tranche of the Program with OAKB "Kishlok Kurilish Bank".

6. OAKB "Kishlok Kurilish Bank" sign the project agreement with ABR.

7. In accordance with the established procedure to issue to the Ministry of Justice of the Republic of Uzbekistan the legal conclusions under the loan agreement between the Republic of Uzbekistan and ABR, and also under the agreement on loaning up with OAKB "Kishlok Kurilish Bank" on loan of the first tranche of the Program.

8. To the Ministry of Economics of the Republic of Uzbekistan in a month in accordance with the established procedure to create project implementation team, with obligatory coordination of the staff list and annual expense budgets of GRP with the Ministry of Finance of the Republic of Uzbekistan.

9. On seal and information, National news agency of Uzbekistan, National broadcasting company of Uzbekistan according to requests of OAKB "Kishlok Kurilish Bank" and IK "Kishlok Kurilish Investment" it is regular to Uzbek agency to light and publish promotional materials about benefits of the objects of individual standard housing which are under construction within the Project without collection of payment, having equated them to social advertizing.

10. To the Ministry of Foreign Affairs of the Republic of Uzbekistan according to requests of the Ministry of Economics of the Republic of Uzbekistan to provide in accordance with the established procedure execution of entrance visas to the foreign specialists participating in implementation of the specified Project without collection of consular and other fees.

11. To provide to the Ministry of Internal Affairs of the Republic of Uzbekistan according to requests of the Ministry of Economics of the Republic of Uzbekistan issue and prolongation of multi-visas, and also temporary registration and prolongation of temporary registration in the Republic of Uzbekistan of the foreign specialists participating in implementation of the specified Project, having exempted them from payment of the state fees.

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