Article 47. General provisions

Fund for Reconstruction and Development of the Republic of Uzbekistan is a financial institution under the Cabinet of Ministers of the Republic of Uzbekistan that accumulates funds specified by this Code to finance priority investment projects and projects for modernization and technical re-equipment of the basic sectors of the economy in order to ensure a dynamic, sustainable and balanced socio-economic development of the country, as well as the implementation of effective structural and investment policies.

Highest governing body of the Fund for Reconstruction and Development of the Republic of Uzbekistan is the Management council of the Fund for Reconstruction and Development of the Republic of Uzbekistan, the composition of which is determined by the decision of the President of the Republic of Uzbekistan.

Executive body and administrator of the resources of the Fund for Reconstruction and Development of the Republic of Uzbekistan is the Executive directorate of the Fund for Reconstruction and Development of the Republic of Uzbekistan.

Executive directorate of the Fund for Reconstruction and Development of the Republic of Uzbekistan submits to the Chamber of accounts and Ministry of finance of the Republic of Uzbekistan:

annually, by July 1, draft of revenues and expenditures of the Fund for Reconstruction and Development of the Republic of Uzbekistan for the upcoming year;

quarterly, by the 25th day of the month following the reporting quarter, a report on the execution of revenues and expenditures of the Fund for Reconstruction and Development of the Republic of Uzbekistan.