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ORDER OF THE GOVERNMENT OF THE KYRGYZ REPUBLIC

of February 3, 2017 No. 58

About approval of the Financing of Agricultural Industry — 5 Project

(as amended on 30-10-2017)

For the purpose of rendering the state support to subjects of entrepreneurship and to physical persons of the Kyrgyz Republic for timely carrying out spring and field works of 2017 and further development of livestock production, crop production, the sector of conversion of agricultural products and services in industry of agricultural industry, according to 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. Approve the Financing of Agricultural Industry — 5 Project according to appendix.

2. To the Ministry of Finance of the Kyrgyz Republic and Ministry of Economics of the Kyrgyz Republic in accordance with the established procedure:

- sign the relevant agreements on subsidizing of interest rates with the commercial banks and specialized financial credit institutes participating in project implementation "Financing of agricultural industry - 5";

- finance the first tranche of subsidy from means of the republican budget of the Kyrgyz Republic for 2017;

- provide in the bill of the Kyrgyz Republic "About the republican budget of the Kyrgyz Republic for 2018 and the forecast for 2019-2020" necessary means for financing of the second and third tranches of subsidies.

3. To impose control of execution of this resolution on department of finance and credit policy of Government office of the Kyrgyz Republic.

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

Prime Minister

S. Zheenbekov

Appendix

Financing of Agricultural Industry — 5 project

1. General provisions

Project objective "Financing of agricultural industry - 5" (further - the Project) is rendering the state support to subjects of entrepreneurship and to physical persons of the Kyrgyz Republic for timely carrying out spring and field works in 2017 and further development of livestock production, crop production, the sector of conversion of agricultural products and services in industry of agricultural industry by providing with available and preferential borrowing facilities.

Project deadline: 36 months.

Financing sources: republican budget of the Kyrgyz Republic for 2017-2019, means of commercial banks and specialized financial credit institutes.

Beginning of project implementation: February, 2017.

Executives in charge: The Ministry of Finance of the Kyrgyz Republic, the Ministry of Economics of the Kyrgyz Republic, commercial banks and specialized financial credit institutes (the microcredit companies, microfinance companies and others) participating in project implementation.

Project description. Within the Project financial resources of commercial banks and specialized financial credit institutes will be provided on preferential interest rate to subjects of entrepreneurship and physical persons of the Kyrgyz Republic during 2017 for development of crop production, livestock production, conversion of agricultural products and services in industry of agricultural industry.

The government of the Kyrgyz Republic subsidizes expenses of commercial banks and specialized financial credit institutes from means of the republican budget for 2017-2019 for placement of the credits on preferential interest rates.

The procedure for loan granting is performed according to requirements of the legislation of the Kyrgyz Republic and regulatory legal acts of National Bank of the Kyrgyz Republic.

Commercial banks and specialized financial credit institutes have no right to perform refinancing of the available debt of borrowers.

The compulsory provision for receipt of the credit within this Project is lack of negative credit history and overdue debt of borrowers on the credits in banks and/or specialized financial credit institutes within the last three years, lack of overdue debt on tax and other obligatory assignments, and also availability of opportunity for expansion/increase in production and to growth in volumes of assignments on taxes.

The commercial banks and specialized financial credit institutes participating in the Project shall credit borrowers on the following main general terms:

Target industry

Crop production, livestock production, conversion and processing of agricultural products, and also export-oriented agricultural production

Final interest rate

10 annual interest rates - for industry "livestock production";

10 annual interest rates - for industry "crop production";

6 annual interest rates - for industry "conversion and processing of agricultural products" and export-oriented agricultural production

Loan term

For all industries - no more than 36 months

Grace period

Full relief from payment of fees on principal amount up to 6 months

Borrowing facilities in the amount up to 100 (hundred) thousand som on personal credits can be issued on unsecured basis with return term to 12 months in the presence of the written recommendation of Council of elders/aksakals/village. At the same time the total amount directed to these purposes shall not exceed 5 percent from the total amount of crediting.

In first-priority procedure to allocate borrowing facilities to subjects of the Kyrgyz Republic, including at the expense of undeveloped means by industries, injured with the current situation on the Kyrgyz-Kazakhstan frontier in 2017, based on the decision of the Commission.

Loan repayment period for subjects of the Kyrgyz Republic, injured with the current situation on the Kyrgyz-Kazakhstan frontier in 2017 to establish terms up to 60 months from grace period of the main amount to 24 months.

2. Additional terms for subjects of industry "livestock production"

The funds allocated for this industry shall not exceed 60 percent from the total amount of financing.

The subjects who are engaged treat this industry:

- cultivation of cattle, including cultivation of yaks;

- cultivation of sheep, goats, horses, rabbits;

- chicken farming (hens, ducks, geese, ostriches, quails and other agricultural birds);

- cultivation of honey bees, including production of bee honey and beeswax;

- fish breeding and activities of fish nurseries and fish farms;

- cultivation of pigs.

Subjects of this industry within this Project can obtain the credit to 3 (three) million som for one borrower irrespective of pattern of ownership - both physical, and legal entities.

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