RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of May 19, 2000 No. 195

About additional measures for stimulation of participation of commercial banks in development of small business

In pursuance of the Presidential decree of the Republic of Uzbekistan of March 21, 2000 and for the purpose of further stimulation of active participation of commercial banks in development of small business, private entrepreneurship the Cabinet of Ministers decides No. UP-2564 "About Measures for Further Liberalization and Reforming of Bank System":

1. Approve:

Regulations on procedure for crediting of small business entities by commercial banks, Dehkan and farms at the expense of special Fund of preferential crediting according to appendix No. 2;

Regulations on procedure for forming of special Fund of preferential crediting by commercial banks according to appendix No. 3.

2. Determine that:

funds of special Fund of preferential crediting of commercial banks are mainly allocated, except as specified, provided by the paragraph the fourth this Item, for financing of high-technology and innovative projects of small business entities, production microfirms, small enterprises, Dehkan and the farms located in the remote and hard to reach areas, and also in areas and the cities with excessive manpower;

commercial banks have the right in case of issuance of credits to small business entities to consider the expenses connected with registration of mortgage providing the borrower in the total amount of the credit.

To the individual entrepreneurs and subjects of family entrepreneurship without formation of legal entity which are again registered in the remote and hard to reach areas, and also the areas with excessive manpower specified in appendix No. 2 to the resolution of the President of the Republic of Uzbekistan of March 17, 2017 No. PP-2844 "About measures for further simplification of system of microcredit of subjects of entrepreneurship and general population" by fund of preferential crediting the credits for the amount to the 100-fold minimum size of the salary are allocated

3. ceased to be valid

4. To the Ministry of Justice together with the Central bank, the Ministry of Finance of the Republic of Uzbekistan, other interested ministries and departments in a month:

make in the Cabinet of Ministers the offers on changes and amendments in the current legislation following from this resolution;

bring departmental regulations into accord with this resolution.

The republican commission on monetary policy to bring earlier made decisions into accord with this resolution.

5. Consider invalid:

Item 3 of the resolution of the Cabinet of Ministers of July 11, 1994 No. 356 "About measures for reducing the cash money supply which is in circulation";

subitems "a", "b" and "v" of Item 1 of the resolution of the Cabinet of Ministers of September 22, 1997 No. 447 "About entering of amendments into some decisions of the Government of the Republic of Uzbekistan";

the resolution of the Cabinet of Ministers of August 7, 1998 No. 342-47.

6. To impose control over the implementation of this resolution on the First Deputy Prime Minister of the Republic of Uzbekistan Hamidov B. S. and the Chairman of the Central bank of the Republic of Uzbekistan Mullazhanov F. M.

Appendix No. 2

to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of May 19, 2000 No. 195

Regulations on procedure for crediting of small business entities by commercial banks, Dehkan and farms at the expense of special Fund of preferential crediting

I. General provisions

1. This Provision is developed according to the Civil code, the Laws of the Republic of Uzbekistan "About the Central bank of the Republic of Uzbekistan", "About banks and banking activity", and is directed by the Presidential decree N UP-2564 of the Republic of Uzbekistan of March 21, 2000 to creating favorable conditions for increase in share of small business entities, Dehkan and farms in end product of real production sector.

2. This Provision regulates procedure for issue by banks of the credits at the expense of means of special Fund of preferential crediting of commercial banks (further - Fund) to small business entities, microfirms, small enterprises, Dehkan and to farms.

3. Microcredit of individual entrepreneurs by commercial banks, Dehkan and farms, and also other small business entities by fund is performed according to the Law of the Republic of Uzbekistan "About microfinancing", and also with the rules of rendering microfinancial services established by commercial banks.

4. The microcredits by fund are issued under the interest rate established according to Item 13 of this provision, except for the microcredits issued to JSB Mikrocreditbank.

5. Issuance of credits by commercial banks by fund is performed on the terms of recoverability, the paid nature, urgency and target use.

Fund is mainly allocated, except as specified, provided by the paragraph the fifth this Item, for financing of high-technology and innovative projects of small business entities, production microfirms, small enterprises, Dehkan and the farms located in the remote and hard to reach areas, and also in areas and the cities with excessive manpower.

The list of areas and cities with excessive manpower for financing of the specified subjects at the expense of means of funds of preferential crediting of commercial banks is determined by the Ministry of Labour together with the Central bank of the Republic of Uzbekistan.

The loans by fund are granted in the amount which is not exceeding the two-thousandfold size of minimum wage.

To the individual entrepreneurs and subjects of family entrepreneurship without formation of legal entity which are again registered in the remote and hard to reach areas, and also the areas with excessive manpower specified in appendix No. 2 to the resolution of the President of the Republic of Uzbekistan of March 17, 2017 No. PP-2844 "About measures for further simplification of system of microcredit of subjects of entrepreneurship and general population" by fund of preferential crediting the credits for the amount to the 100-fold minimum size of the salary are allocated

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