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ORDER OF THE GOVERNMENT OF THE KYRGYZ REPUBLIC

of November 27, 2014 No. 678

About measures for ensuring return with associations (associations) of water users and the unions of associations of water users of the public borrowed funds recredited by the Government of the Kyrgyz Republic

For the purpose of ensuring return by associations of water users and the unions of associations of water users of the public borrowed funds recredited by the Government of the Kyrgyz Republic, being guided by articles 10 and 17 of the constitutional Law of the Kyrgyz Republic "About the Government of the Kyrgyz Republic", the Government of the Kyrgyz Republic decides:

1. Determine the Ministry of Agriculture and Land Reclamation of the Kyrgyz Republic the executive agency. The Ministry of Finance of the Kyrgyz Republic - the creditor, associations of water users and the unions of associations of water users - borrowers on the following projects:

- "Improvement of water resources management" (The agreement on grant on the development purposes (grant No. N-212 KG) and the Letter on the Agreement on grant of the Government of Japan on joint financing of the project (No. TP grant 056324) between the Kyrgyz Republic and International Development Association of June 21, 2006);

- "The second project of intraeconomic irrigation" (The agreement on financing between the Kyrgyz Republic and International Development Association (N 312-KG) of August 29, 2007);

- "Additional financing for the Second project of intraeconomic irrigation" (The agreement on financing between the Kyrgyz Republic and International Development Association (the Credit No. 4982-KG, Grant of N 718-KG) of July 25, 2011).

2. To the Ministry of Finance of the Kyrgyz Republic to conclude with associations of water users and the unions of associations of water users credit agreements within the projects specified in Item 1 of this resolution, with the following provisions:

- the borrower returns to the creditor the amount of debt equal to 25 percent of final cost of construction works on intraeconomic irrigational systems, within 7 years after completion of construction, with grace period - 4 years, without mortgage providing;

- the borrower returns to the creditor the amount of debt equal to 100 percent of cost of the equipment, within 7 years from the delivery date of the equipment, with grace period - 1 year;

- the borrower returns to the creditor the amount of debt equal to 50 percent of cost of the digging equipment (the excavator and (or) lift truck), within 7 years from the delivery date of the equipment, with grace period - 1 year;

- determine mortgage providing - the equipment, the equipment which were purchased at the expense of borrowed funds;

- perform loan repayment uniform quarter payments on interest-free basis;

- financial sanctions in case of untimely return of means - percent 0,01 from the amount of overdue payment for each day of delay.

3. To the Ministry of Agriculture and Land Reclamation of the Kyrgyz Republic:

- provide target use of the funds allocated within the specified projects;

- perform coordination of work of associations of water users and the unions of associations of water users and to render them necessary assistance within projects implementation;

- provide the timely conclusion of credit agreements and pledge agreements between associations of water users and the unions of association of water users with the Ministry of Finance of the Kyrgyz Republic.

4. This resolution becomes effective from the date of official publication.

5. To impose control of execution of this resolution on department of agro-industrial complex and ecology of Government office of the Kyrgyz Republic.

Prime Minister

J. K. Otorbayev

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

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