RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of March 9, 2012 No. PP-1725

About measures for further enhancement of activities of Fund of reconstruction and development of the Republic of Uzbekistan

(Extraction)

For the purpose of increase in role and expansion of scales of participation of Fund of reconstruction and development of the Republic of Uzbekistan in implementation of processes of upgrade, technical and technology modernization of the companies, strengthenings of its resource base for growth in volumes of joint financing of strategic investment projects in the leading industries and production infrastructure of the country:

1. Take into consideration that according to the resolution of the President of the Republic of Uzbekistan of August 11, 2010 No. PP-1387 "About measures for further strengthening of resource base of Fund of reconstruction and development of the Republic of Uzbekistan" the authorized capital of Fund of reconstruction and development is created in the established size of 10 billion US dollars.

2. Agree with the offer of the Ministry of Finance, Central bank, Ministry of Economics, Ministry of Foreign Economic Relations, Investments and Trades of the Republic of Uzbekistan on step-by-step finishing during 2012 - 2016 of the authorized capital of Fund of reconstruction and development of the Republic of Uzbekistan to 15 billion US dollars.

3. Ceased to be valid according to the Resolution of the President of the Republic of Uzbekistan of 18.12.2023 No. PP-397

4. Make changes and additions to some acts of the President of the Republic of Uzbekistan according to appendix No. 2.

6. To impose control of execution of this resolution on the Prime Minister of the Republic of Uzbekistan Sh. M. Mirziyoev.

Appendix № 1

to the Resolution of the President of the Republic of Uzbekistan of March 9, 2012 No. PP-1725

No. PP-397 voided according to the Resolution of the President of the Republic of Uzbekistan of 18.12.2023

Appendix № 2

to the Resolution of the President of the Republic of Uzbekistan of March 9, 2012 No. PP-1725

Changes and additions made to some acts of the President of the Republic of Uzbekistan

1. In 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":

in the paragraph the second Item 2 of the word "19 units" shall be replaced with words "32 units";

add Item 3 with the paragraph of the following content: "other receipts according to decisions of the President of the Republic of Uzbekistan and Government of the Republic of Uzbekistan".

2. In Regulations on the Fund of reconstruction and development of the Republic of Uzbekistan, the principles of forming and use of fund approved by the resolution of the President of the Republic of Uzbekistan of May 16, 2006 No. PP-350:

from item 4 the second offer to exclude; to state paragraph two of Item 9 in the following edition: "accumulation of the financial resources of the state allocated in Fund";

state Item 19 in the following edition: "19. Sources of forming of fund are: superforecast receipts in the republican budget for the excess profit taxes, for use of natural resources and to the excise tax, the republics which are formed as a result of favorable prices in the world markets by separate types of strategic resources;

receipts from excess of the world price for precious metals over the stop-out price which is annually established by decisions of the Cabinet of Ministers in case of approval of parameters of the Government budget. Along with it, are enlisted in Fund in process of receipt: means from realization of state-owned property to foreign investors for foreign currency over the amounts considered when forming the income of the Government budget;

investment revenues from asset management of Fund, including from placement of free remaining balance of fund;

other receipts according to decisions of the President of the Republic of Uzbekistan and the Government of the Republic of Uzbekistan"; add Item 24 with the paragraph of the following content: "Payment of advance payments under the import contracts co-financed by fund is performed, as a rule, with provision by the supplier to the refinancing commercial bank of the guarantee of return of advance payment issued by the first-class foreign bank";

in paragraph three of Item 25 of the word "and the existing regulations of the Central bank" shall be replaced with words "acts of the Central bank and other acts of the legislation".

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