RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of August 19, 2015 No. 45/1

About approval of the Provision "About Loan Granting of the Kyrgyz Republic by National Bank to the International Organizations Created by the Kyrgyz Republic together with Other States within the Eurasian Economic Union"

According to Articles 5, 7 and 43 Laws of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic", the Board of National Bank of the Kyrgyz Republic decides:

1. Approve the Provision "About Loan Granting of the Kyrgyz Republic by National Bank to the International Organizations Created by the Kyrgyz Republic together with Other States within the Eurasian Economic Union" it (is applied).

2. To legal management:

- publish this resolution on the official site of National Bank of the Kyrgyz Republic;

- after official publication to send this resolution to the Ministry of Justice of the Kyrgyz Republic for entering into the State register of regulatory legal acts of the Kyrgyz Republic.

3. This resolution becomes effective from the date of its official publication.

4. To management of monetary transactions to bring this resolution to the attention of the relevant structural divisions of National Bank of the Kyrgyz Republic.

5. To impose control of execution of this resolution on the vice-chairman of National Bank of the Kyrgyz Republic N. Zhenish.

Approved by the Resolution of Board of National Bank of the Kyrgyz Republic of August 19, 2015 No. 45/1

Regulations on loan granting of the Kyrgyz Republic by National Bank to the international organizations created by the Kyrgyz Republic together with other states within the Eurasian Economic Union

1. General provisions

1. This Provision determines procedure for loan granting by National Bank of the Kyrgyz Republic (further - National Bank) to the international organizations created by the Kyrgyz Republic together with other states within the Eurasian Economic Union for the purpose of assistance to development of economy of the Kyrgyz Republic (further - the Organizations), performing the activities based on interstate and/or intergovernmental agreements and the charter.

2. The National Bank grants the loans according to articles 18 and 44 of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity", this Regulations and the General agreement on loan granting signed between National Bank and the Organization. The standard form of the General agreement of loan granting is given in Appendix 1 to this Provision.

3. The loan is granted in national currency with respect for the general principles of crediting: urgency, paid nature, recoverability and security.

4. The loans are granted to the Organization for the purpose of assistance to development and support of long-term economic growth of the Kyrgyz Republic.

5. The credits issued by National Bank shall be used by the Organization only on the purposes and tasks determined in the interstate and/or intergovernmental agreement about its organization and articles of organization and which are not contradicting item 4 of this provision.

6. The decision on loan granting, conditions of provision and volume of credit is accepted by Board of National Bank.

7. The loan interest rate is established by Board of National Bank and as necessary can be changed on condition of the notification of the organization at least in 1 month prior to interest rate realignment.

8. The term of loan granting of the Organization by National Bank is determined by Board of National Bank.

9. The obligation of the Organization for repayment of the loan is provided with pledge. Subject of pledge is the non-cash foreign currency (US dollars and/or euro) in the form of the rights of requirements of the money which is on the interest-free deposit account in National Bank or government securities of the Kyrgyz Republic. Requirements to sufficiency amount (in percentage expression), to type and other parameters of mortgage providing it is established by Board of National Bank.

2. The used terms and concepts

10. The general agreement about the credits issued to the Organizations (further - the General agreement) is the in writing drawn up agreement between National Bank and the Organization determining general terms and procedure for provision by National Bank of the credits of the Organization and procedure for regulation of the legal relationship arising at the same time. The general agreement is signed in the form specified in Appendix 1 to this Provision and in case of compliance of the Organization to the conditions specified in Item 13 of this provision.

11. The pledge agreement is the agreement signed between National Bank and the Organization within the General agreement following the results of board decision of National Bank based on which the obligation of the Organization for return of the credits is provided with pledge. The agreement determines conditions and procedure for provision of mortgage providing and is integral part of the General agreement.

12. Board of National Bank - the collegiate organ determining the main activities of National Bank and performing management of National Bank.

13. The credit agreement is the agreement signed between National Bank and the Organization within the General agreement following the results of board decision of National Bank based on which the National Bank grants to the Organization domestic currency loan. The agreement determines conditions of provision and procedure for loan repayment and is integral part of the General agreement.

3. Loan granting conditions

14. For receipt of the credit in the Organization National Bank shall:

- to be founded and to be effective according to the interstate and/or intergovernmental agreement between Kyrgyz the Republics and other state(s) of the Eurasian Economic Union;

- have the charter which determines the status, the purposes and tasks, and also functions of the Organization;

- have the settlement account in National Bank on servicing of domestic currency loans of National Bank (further - the account);

- have the deposit account and the signed Agreement on opening and servicing of deposit accounts in foreign currency for mortgage providing in National Bank in the form specified in Appendix 2 to this Provision;

- have available the General agreement signed with National Bank;

- provide the sufficient mortgage providing meeting the requirements established by National Bank and other regulatory legal acts of the Kyrgyz Republic;

- not have overdue monetary commitments before National Bank on the obtained credits and percent on them;

- provide in National Bank the list of responsible persons of the Organization with specimen signatures of persons, representatives to make transactions on behalf of the Organization and to dispose of means of the Organization, the Organizations certified by the Chairman and notary according to the legislation of the Kyrgyz Republic.

15. The organization has no right to utilize the credits obtained from National Bank for carrying out transactions with instruments of monetary policy of National Bank, transactions in the interbank market, the foreign exchange market and the security market, including the market of government securities, and also for carrying out transactions with the insiders. The organization shall utilize the obtained credits of National Bank for crediting of subjects of entrepreneurship of the Kyrgyz Republic only on the purpose of purchase of goods and raw materials of local origin at residents of the Kyrgyz Republic, and also services of residents of the Kyrgyz Republic. In case of violation by the Organization of the requirements specified in this Item for the Organization the measures specified in Items 5.3 are applied. and 5.5. General agreement.

4. Procedure for receipt of the credit

16. For receipt of the credit the Organization shall send to the address of National Bank the letter petition (request) on need of loan granting signed authorized by person of the Organization, with indication of amount of the maximum loan term, and also mortgage providing.

17. The solution on loan granting, interest rate, terms, conditions of provision and volume of credit affirms Board of National Bank.

5. Mortgage loan security

18. The loans are granted to the Organization only in the presence of mortgage providing. The non-cash foreign currency (US dollars and/or euro) in the form of the rights of requirements of the money which is on the interest-free deposit account of the Organization in National Bank or the government securities of the Kyrgyz Republic belonging to the Organization on the property right acts as mortgage providing the Organization for the credits.

19. The pledge provided in loan security cannot be pledged or repawned to the third party without the corresponding consent of National Bank. The money provided as mortgage providing shall belong to the Organization on the property right.

20. Insufficient mortgage providing is the basis for refusal by National Bank in provision of the required Organization of credit amount.

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