ANNOUNCEMENT 29 May 2013In May 2013, the government of Uzbekistan announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
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:
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.