PRESIDENTIAL DECREE OF THE REPUBLIC OF UZBEKISTAN

of August 8, 2023 No. UP-129

About additional measures for creating favorable conditions for entrepreneurs in the Republic of Karakalpakstan

For the purpose of creating favorable conditions for investment attraction to the Republic of Karakalpakstan by stimulation of the organization of business activity and production of competitive products with high value added in the region, and also achievements of the resulting effects of development the next seven years planned on the basis of direct studying of proposals of entrepreneurs:

1. To allocate to fund of reconstruction and development 100 million US dollars of JSC Uznatsbank, JSB Uzpromstroybank and JSC Alokabank for the purpose of financing of investment projects on expansion of production in the Republic of Karakalpakstan. At the same time within these means:

commercial banks grant the loans for financing of investment projects at the rate of 5 annual interest rates in foreign currency and 12 annual interest rates in national currency for a period of 10 years with 5-year grace period. At the same time the margin of commercial bank is established in the amount of 1 percent on foreign currency loans and 2 percent - on domestic currency loans;

projects are performed by investment companies under establishment of commercial banks with the subsequent realization to entrepreneurs as "the ready project";

commercial banks provide borrowing facilities for financing of investment projects for a period of 10 years with 5-year grace period at a rate of not more than the main rate of the Central bank.

2. To the ministry of investments, industry and trade till the end of 2024 to raise in addition borrowing facilities in the amount of 200 million US dollars from the international financial institutions for the purpose of the organization of work on financing of new projects.

At the same time financing of these means and projects implementation are performed based on the conditions determined by Item 1 of this Decree.

3. Establish procedure for further improvement of business environment in the Republic of Karakalpakstan according to which:

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