Regulatory Alerts2017-04-24 | 7/4Added · Updated
Amendments to the Regulation on the Procedure for Providing Microcredits by Commercial Banks for Agricultural Production by Personal Auxiliary Households
The Central Bank of Uzbekistan amends the Regulation on microcredit provision to expand eligible activities to include poultry, beekeeping, rabbit breeding, and greenhouse establishment, and to allow credit for purchasing seeds and seedlings. The maximum microcredit amount is set at up to 100 times the minimum wage, with repayment terms ranging from 2 to 5 years depending on the specific agricultural activity, including grace periods of 6 months to 3 years. This resolution, numbered 7/4 and dated April 8, 2017, entered into force on April 24, 2017, and was subsequently repealed on July 16, 2019.
Resolution of the Board of the Central Bank of the Republic of Uzbekistan, registered on April 21, 2017, registration number 2344-2
Date of Entry into Force
April 24, 2017
All
July 16, 2019
April 24, 2017
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Russian Uzbek O’zb Uzb|Russian
Document lost its force on July 16, 2019
[ OKOB: 1. 21.00.00.00 Complex documents on amendments and additions / 21.04.00.00 Departmental normative legal documents]
RESOLUTION OF THE BOARD OF THE CENTRAL BANK OF THE REPUBLIC OF UZBEKISTON
On Amendments to the Regulation on the Procedure for Providing Microcredits by Commercial Banks for Agricultural Production by Personal Auxiliary Households
[Registered by the Ministry of Justice of the Republic of Uzbekistan on April 21, 2017, registration number 2344-2]
This resolution loses its force based on the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 14/11 dated June 22, 2019 "On Approval of the Regulation on the Procedure for Providing Microcredits by Commercial Banks for Agricultural Production by Personal Auxiliary Households and on Declaring Resolutions Amending and Supplementing It as Invalid" (registration number 2344-3, dated July 16, 2019).
In accordance with the Laws of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan", "On Banks and Banking Activities", "On Microfinancing", and the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan No. 119 dated March 4, 2017 "On Additional Measures Concerning the Efficient Use of Garden Plots and Household Land of Farmers and the Population, and the Development of Water-Resistant, Export-Oriented Tree Plantations", the Board of the Central Bank of the Republic of Uzbekistan resolves:
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Amendments shall be made to the Regulation on the Procedure for Providing Microcredits by Commercial Banks for Agricultural Production by Personal Auxiliary Households, approved by Resolution No. 8/1 of the Board of the Central Bank of the Republic of Uzbekistan dated March 10, 2012 (registration number 2344, March 20, 2012) (Collection of Legislation of the Republic of Uzbekistan, 2012, No. 12, Article 136), in accordance with the Appendix.
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This resolution enters into force from the date of its official publication.
Chairman of the Central Bank F. MULLAJONOV
Tashkent,
April 8, 2017,
No. 7/4
APPENDIX to the Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 7/4 dated April 8, 2017
Amendments being made to the Regulation on the Procedure for Providing Microcredits by Commercial Banks for Agricultural Production by Personal Auxiliary Households
The Preamble shall be stated in the following wording:
"This Regulation establishes the procedure for providing microcredits by commercial banks for the development of agricultural production, livestock breeding, horse breeding, camel breeding, fish farming, poultry farming, and beekeeping, rabbit breeding and rearing, establishment of greenhouses, as well as for purchasing seeds and seedlings, in accordance with the Laws of the Republic of Uzbekistan 'On the Central Bank of the Republic of Uzbekistan', 'On Banks and Banking Activities', and 'On Microfinancing'."
Paragraphs 2 and 3 shall be stated in the following wording:
"2. Microcredits are provided to personal auxiliary households for the development of agricultural production, livestock breeding, horse breeding, camel breeding, fish farming, poultry farming, and beekeeping, rabbit breeding and rearing, establishment of greenhouses, as well as for purchasing seeds and seedlings, in an amount of up to 100 times the minimum wage.
- Microcredits are provided on a contractual basis without the right to extend the repayment period:
for purchasing fruit trees and grape seedlings, and for the development of fish farming and poultry farming — up to 3 years with a 1-year grace period;
for the development of livestock breeding, horse breeding, camel breeding, beekeeping, rabbit breeding and rearing — up to 3 years with a 6-month grace period;
for purchasing seeds, mineral fertilizers, and plant protection chemicals, and for establishing greenhouses — up to 2 years with a 6-month grace period;
for establishing greenhouses intended for lemon cultivation, and for growing uña and walnuts — up to 5 years with a 3-year grace period."
(Collection of Legislation of the Republic of Uzbekistan, 2017, No. 16, Article 282)