ANNOUNCED AS TEMPORARYNo
On 5 October 2015 entered into force Joint Decree No. 1675-3 of the Ministry of Finance and the Board of the Central Bank of Uzbekistan. It amended the reimbursement conditions of loan expenses related to the financing of the production for public procurement needs of cotton and grain.
Concretely, the preferential loan rate on loans for growing grain procured for public use is increased from 3 to 5 per cent. Thus, other conditions being equal, it may be expected the demand for loans from grain producers to be affected. The bank margin remains unchanged at 2 per cent, hence, with no impact on its profitability.
According to UN Comtrade, no trading partner exported more then USD 1 million of the affected products to Uzbekistan prior to this intervention. Thus no affected trading partners have been identified.
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