Uzbekistan, Tashkent, Feb. 7 / Trend D. Azizov /
Uzbek President Islam Karimov extended the benefits given to the open joint-stock commercial "Qishloq Qurilish bank" (bank of agriculture building) until January 1, 2016.
The benefits envisaging the exemption from payment of income and property taxes, as well as customs duties for imported banking equipment and technical equipment (except for the fees for customs clearance), were given to the bank in March 2009 for the period up to January 1, 2012 upon the presidential decree on "Creation of joint stock commercial Bank "Bank Qishloq Qurilish".
According to the presidential current order, the benefits were extended in connection with the implementation of the project "Development of housing construction in rural areas". The project will be implemented in the 2012-2015 with financial support from the Asian Development Bank (ADB).
The ADB Board of Directors approved the program of the multi-tranche financing of the project "Development of housing construction in rural areas" totaling $ 500 million in August 2011.
The project will be financed by four tranches. The ADB approved a loan for the first tranche of the program to the amount of $160 million in September 2011. The loan is given from ADB's ordinary capital resources, with a maturity of 18 years, including a three-year grace period.
The loans from subsequent tranches of the program will be allocated on the same terms.
"Qishloq Qurilish bank" is an agent for the implementation of the project component "Credit line for mortgage lending" through the ADB loan.