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NEWS

Uzbekistan to allocate funds for investment projects in 2015

en.trend.az
28 December 2014

Uzbekistan plans to allocate $908.1 million from the country's Fund for Reconstruction and Development for the implementation of 34 projects included in the state investment program-2015.

The country's investment program, which includes the projects of energy, oil and gas and chemical industries, metallurgy and transport infrastructure with a total cost of $19.03 billion, approved by President Karimov's special resolution.

The main volume of the fund's loans is planned to be allocated to implement the projects in the fuel-energy sector worth $571.3 million, the chemical industry - $169.8 million and transport sector - $60.6 million in 2015.

The Uzbek Fund for Reconstruction and Development was established in 2006 for financing and co-financing the projects included in the state investment program.

The fund is exempt from all taxes, levies, duties and compulsory contributions to the state targeted funds, except for the single social payment.

The fund's loans are allocated for a period of 7-15 years, including a grace period of three to five years. The rate is 2.25 percent.

The founder of the fund is the government represented by the finance ministry. Currently, the fund's authorized capital is formed in the amount of $ 15 billion.