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.

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