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RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of October 31, 2014 No. PP-2254

About subscription of the Republic of Uzbekistan to additional shares in the authorized capital of International Development Association

For the purpose of further cooperation increase with International Development Association, and also preserving initial share of the Republic of Uzbekistan in its authorized capital in connection with its increase:

1. Take into consideration that Board of governors of the International Development Association (IDA) makes the decision on increase in the authorized capital of MAR and organization of subscription of member countries of MAR to additional shares for the purpose of preserving their shares in the authorized capital of MAR.

2. Approve the offer of the Ministry of Economics, Ministry of Finance and Central bank of the Republic of Uzbekistan on additional subscription of the Republic of Uzbekistan to 7 972 shares in the authorized capital of MAR, including 2 172 paid shares nominal value of each share of 25 US dollars for total amount 54, of 3 thousand dollars of the USA and 5800 unpaid shares.

3. Authorize the Minister of Finance of the Republic of Uzbekistan to sign the commitment letter notifying on intention of the Republic of Uzbekistan to acquire additional shares in the authorized capital of MAR on behalf of the Republic of Uzbekistan.

4. Determine that payment of cost of 2 172 paid shares in the authorized capital of MAR is made by release by the Central bank of the Republic of Uzbekistan of the non-transferrable bill on the equivalent amount in national currency which is placed on the security account MAR in the Central bank of the Republic of Uzbekistan and is subject to repayment in accordance with the established procedure upon the demand of MAR.

5. To Central Bank of the Republic of Uzbekistan to issue non-transferrable interest-free bill in national currency on the equivalent amount in the amount of 54 300 US dollars within 31 days after the direction of the document on subscription and to place it on the security account MAR in the Central bank of the Republic of Uzbekistan.

6. To the Ministry of Economics of the Republic of Uzbekistan as to authorized working body within cooperation with Group of the World Bank:

provide on behalf of the Republic of Uzbekistan the timely direction in MAR of the document on subscription to additional shares in the authorized capital of MAR;

inform MAR on release and placement of non-transferrable interest-free bill on the security account MAR in the Central bank of the Republic of Uzbekistan.

7. To impose control of execution of this resolution on the First Deputy Prime Minister of the Republic of Uzbekistan R.S.Azimov.

President of the Republic of Uzbekistan

I. Karimov

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