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Investment credits

Update date: 14 August 2020, 19:06

Loan for investment purposes is given for construction, reconstruction or technical re-equipment (including development of design and estimate documentation and conduction of expertise of project, purchase of equipment, performance of construction and installation works), as well as for acquiring other fixed assets and parts of working capital, related to this acquisition, required for the ensuring of regular business functioning of production enterprises and service delivery companies.

Loans for investment purposes are given in national and foreign currency to business entities with rights of legal entity, regardless of their form of ownership, which have opened demand deposit accounts in the Bank.

When deciding on granting loans for investment purposes in foreign currency, the Bank pays special attention to the borrowers’ sources of repayment, proceeding from the basic principle – credit project’s capacities to generate sufficient cash flow in foreign currency.

Loans for investment purposes are granted to borrowers in terms of strict observance of principles of lending: safety, profitability, the purpose, repayment and maturity of the loan. The borrowers are responsible for efficient use of the Bank’s credits. The borrowers, violating terms of lending, are subject to measures of economic impact.

Loans for investment purposes are provided at the expense of the Bank’s own and attracted resources in accordance with the regulations, set by the Central Bank of the Republic of Uzbekistan, in relation to transactions in national and foreign currency.

Loan for investment purposes is issued on commercial terms, which are defined by loan agreement, concluded between the Bank and the borrower, providing payment of interest rate in national currency (in case if loan is issued in national currency) and foreign currency (in case if loan is issued in freely convertible currency). Any changes of terms of lending shall be recorded in the Amendment to loan agreement.

Period of loan for investment purposes is set by loan agreement, according to the feasibility study, depending upon the payback period of the project, required to complete the project and start production of goods. Period of loan shall not exceed 3,5 years (42 months).

When deciding on granting loan for investment purposes the Bank pays special attention to the sources and guarantees of the loan repayment, the proper fulfillment of the borrower’s obligations in relation to previously issued loans.

Eligibility requirements for borrower – initiator of investment project:

  • The borrower – entity with rights of legal entity – shall be properly established and registered in accordance with the current legislation;
  • The borrower’s financial status shall be assessed not worse than satisfactory – the borrower shall not be under the risk of bankruptcy or other judicial and extrajudicial procedures, which may have negative impact on the successful implementation of the investment project;
  • Borrowers with positive credit history have priority access to loans for investment purposes in case if the project meets the requirements of the Bank’s credit policy;
  • For the purpose of mitigating the Bank’s risks, related to investment project financing, minimal share of the borrower’s own funds shall be not less than 30 percent in the total cost of the project. Subject to authorization from the Bank Council, the Credit Committee of the Bank may reduce share of the borrower’s own funds in the total cost of the project in case of suitable estimates of loan repayment.

In order to receive loan for investment purposes, the borrower shall submit the following documents to the Loan Division of the Bank’s Branch:

- Application for loan for investment purposes, which must contain information about purpose, amount, currency of payment, collateral and period of loan;

- Copies of the founding documents of the borrower (articles of association, certificate of state registration, licenses for carrying out activities, registered with administrative bodies). All the expired documents shall be renewed or prolonged;

- Protocol decision of meeting of shareholders, indicating their consent for investment loan application;

- Business plan, which must contain analysis of cash flow for the whole period of the investment loan as well as feasibility study and financial sustainability of the project; specifications of goods and country, where the goods will be purchased; information about the required raw materials in case of purchase of equipment; comprehensive schedule of works for the whole period of construction, adjustment and development of production capacities; calculations of the term of loan use and loan repayment period; protocols of intentions and sales agreements, concluded with potential buyers, which provide for successful start up, commercial and production activities of the project; harmonization of investment project implementation timeframes with terms of lending; other information, supporting viability of financing of investment project;

- Copies of balance sheets (Form # 1), authorized by local state tax authorities, statements of financial performance (Form # 2) for the last biennium, statements of overdue accounts payable and receivable with copies of reconciliation statements for the period over 90 days;

- Copy of auditor’s report, confirming satisfactory financial performance of the borrower (this provision is applicable to enterprises, which must be audited in accordance with the Law of the Republic of Uzbekistan «On Audit Activities»);

- Statement on borrowings from other creditors, information on cash and balances with other banks and also information on participation by own capital in the setting up of other enterprises;

- Documents, confirming powers of individual to sign Loan Agreement on behalf of the borrower in case if the individual is representative of the borrower, specimen signatures;

- Documents, related to security of the loan repayment;

- Other documents, stipulated by the internal regulations of the Bank.

Loan Division of the Bank’s Branch reserves rights to inquire supplementary documents or information in relation to the borrower’s financial position and collateral necessary for analyses of the investment project.

For the purposes of minimization of credit default risk, the borrower shall provide to the Bank collateral for securing the loan. The collateral shall consist of liquid assets and property. The borrower may use one of the following types of collateral:

- Pledge of the borrower’s assets or assets of third parties, which have status of a legal entity;

- Guarantees or insurance policies, issued by insurance companies, acceptable by the Bank;

- Guarantees from the third parties with status of a legal entity, which have stable and solvent financial position (the Bank will not accept guarantees from the organizations, which have overdue credits, unacceptable level of credit rating, unprofitable organizations and companies with non-liquid balance sheet);

- Other types of collateral, not prohibited by the current legislation of the Republic of Uzbekistan, which provide reasonable assurance that pledged assets can be efficiently sold and investment credit is well secured.

The following assets cannot be accepted by the Bank as collateral:

- Properties, which cannot be freely purchased and sold, due to the legislation provisions or specific conditions (isolated location, location in the protected areas, illiquidity, inseparability from other (unencumbered) property etc);

- Properties with conflicting claims of ownership;

- Properties, which are pledged under the other loan agreements of the borrower, unless the Bank concludes legally binding agreement (certified by notary in case of a pledge of real estate) with the current pledgee on assignment of rights over security in favor of the Bank;

- Properties, which have been seized or which may be seized;

- Properties, which are pledged under the other obligations of the borrower;

- Intangible assets (trademarks, know-how, engineering etc).


Enter amount of loan required
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Insurance expenses are recorded for the entire loan period. If this cell is left empty, then, the maximum flow rate is automatically calculated.
The costs of property valuation can be filled at will. The cost of property valuation is on average 3.0 million sums. If this cell is not filled, the average cost is automatically calculated.
The costs of notarizing the contract are charged by the Notary Authority according to the tariffs set by the State Duty. The cost of notarizing a pledge agreement averages 1 million sums. If this space is not filled, the average amount is automatically calculated.

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