ANNOUNCEMENT 29 May 2013

In May 2013, the government of Uzbekistan announced a change in private-sector financial support.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 29 May 2013 | Removal date: open ended

State loan

On 29 May 2013 the Government of the Republic of Uzbekistan (according to Decree No. 146) allowed IPOTEKA Bank to issue two loans for an investmentp roject of 'Almalyk GMK'.

The investment project of the company 'Almalyk GMK' involves production of copper pipes of different diameters. The loan is at the amount of USD 25.20 million. It is allocated in two credit lines:

  • USD 12.27 million for a term of 7 years, including a grace period of 3 years, with an interest rate of 6.0 percent per annum;
  • USD 12.93 million for a term of 7 years, including a grace period of 3 years, at rate not exceeding the refinancing rate of the Central Bank of the Republic of Uzbekistan.

In the decree is stated that this state measures targets 'facilitation of the processing of copper raw materials and production of competitive products with high added value in the internal and external markets'.

The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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