Project financing
Asaka Bank provides project financing for investment projects aimed at the construction of new and expansion, modernization, technical re-equipment of production (including the acquisition of equipment, materials, samples of new products, other material values and technologies).
THE BANK FINANCES ECONOMICALLY PERSPECTIVE, PROFITABLE PROJECTS.
The term of use of credits depends on the payback period of the project or on the basis of the conditions of attracted credit lines of foreign banks and other international financial institutions (on the terms determined by the relevant decrees of the Cabinet of Ministers and credit agreements).
As a collateral, the bank may accept a pledge of movable and immovable property, guarantees of third parties, guarantees of the Government of the Republic of Uzbekistan, insurance organizations and banks and other types of collateral not prohibited by the legislation of the Republic of Uzbekistan.
THE BANK IS NOT ALLOWED TO PROVIDE THE FOLLOWING CREDITS:
- credits for political purposes;
- credits to finance weapons, ammunition, explosives, as well as narcotic drugs or psychotropic substances (except for cases permitted by law);
- credits secured by securities, illiquid and low yield;
- credits to borrowers that were declared bankrupt;
- for purposes that may turn out to be illegal;
- credits to legal entities of other states;
- credits for slow, stale, incomplete, non-standard, low-quality valuables.
THE POLICY OF THE BANK PROVIDES REFUSAL OF CREDITS TO:
- local authorities and budgetary organizations (except for cases stipulated by the current legislation of the Republic of Uzbekistan);
- unprofitable enterprises or with arrears;
- public organizations that do not carry out entrepreneurial activities.
Sources of credit for investment projects can be funds from foreign banks and other financial institutions under the guarantees of export credit agencies of the respective countries.
In order to implement projects on project financing, the bank also uses syndicated lending.
A project accepted for financing must be provided with a feasibility study of the project approved in the prescribed manner, design and estimate documentation in full and duly executed contracts and agreements for the supply of the required set of technological equipment, contract work and other agreements that ensure normal commissioning and production commercial activities of the project.
Asaka Bank is interested in the implementation of investment projects of enterprises, including those for small businesses and private entrepreneurship. The center for coordination of investment activities and project management of Asaka Bank, as well as branches of the bank are ready to provide the necessary assistance and support at all stages of the implementation of investment projects.
