PRESS OF UZBEKISTAN
March 30, 2016
CHARTER CAPITAL OF FUND ON SUPPORTING EXPORTS OF SMALL BUSINESSES OF UZBEKISTAN TO GROW BY THREE TIMES
The Government of Uzbekistan adopted a decision on increasing charter capital of the Fund on supporting exports of small businesses and private enterprises under the National Bank of Uzbekistan for Foreign Economic Activity (NBU).
According to the resolution of the Government, the charter capital of the fund will grow three times from 5.3 billion soums (currency rates of CB RU from 30.03.2016, 1$= 2876.72 soums) to 10.3 billion soums and US$2 million due to voluntary fees of the founders.
NBU will direct 2.3 billion soums and US$2 million to increase charter capital of the fund, Asaka Bank – 700 million soums, Uzpromstroybank – 700 million soums, Uzbekistan Banking Association – 700 million soums, Uztadbirkorexport – 50 million soums, Uzsanoatexport – 50 million soums, small businesses and farmers – 500 million soums.
The resolution said that the Fund will expend a list of financial services, rendered to small and private businesses.
Fund will participate in the charter capitals of small and private businesses and compensate expenses of businesses and farms, spent to modernization and expansion of production, as well as for attracting foreign specialists.
The Government also decreases the commission for rendering legal, financial and organizational services from 3% to 1%, but not less than 100,000 soums.
The Fund also received a right to open its representative offices in foreign countries.
Fund on supporting exports of small businesses and private enterprises was established in 2013 to expand export potential of small and private businesses, as well as farmers.