Article 49. Use of resources of the Fund for Reconstruction and Development of the Republic of Uzbekistan

Resources of the Fund for Reconstruction and Development of the Republic of Uzbekistan are used for:

financing investment projects included in state development programs;

provision of concessional loans to finance projects on the development and reconstruction of industrial infrastructure for the subsequent development of new industrial production;

investing in the authorized capital of newly created financial institutions and strategic enterprises with foreign investments in the main sectors of the economy;

advanced repayment of obligations to international financial institutions and foreign creditors on public external borrowings;

within the framework of programs approved by the President of the Republic of Uzbekistan or the Cabinet of Ministers of the Republic of Uzbekistan, modernization, technical and technological re-equipment, accelerated financing and implementation of investment projects through credit lines in foreign currency opened for commercial banks;

financing the development of preliminary or final feasibility studies of individual projects on a grant basis or through the provision of interest-free loans;

provision, in accordance with approved state programs, of concessional loans for the procurement of new modern foreign technologies, machinery and equipment and other strategic goods;

grant financing of national socially important state programs and projects aimed at formation of production and non-production infrastructure;

co-financing, jointly with commercial banks, of investment programs (business plans) of borrowing enterprises, including those aimed at technically re-equipping production, increasing the utilization of production capacity, increasing the rate of production of competitive products and their export, ensuring the growth of value addition;

covering expenses related to operations of the executive office and management of the Fund for Reconstruction and Development of the Republic of Uzbekistan.