Tashkent, Uzbekistan (UzDaily.com) -- The Government resolution adopted the Regulation on “On the procedure for reimbursement of part of interest payments on the “Green” consumer loan”

Accordingly, the Intersectoral Energy Saving Fund allocates compensation for up to 3 years to reimburse part of the interest rate on “Green” consumer loans, the size of which does not exceed 500 sizes of basic estimated value (165 million soums), and the interest rate does not exceed 1.5 times the main rate of the Central bank, but not more than 5 percentage points.

Compensation is allocated for “Green” consumer loans to individuals who, as of the date of application, received a positive conclusion from the scoring system of commercial banks and do not have overdue loans and taxes.

Documents are reviewed within 2 working days from the date of receipt by the fund, then a certificate is issued about the allocation of compensation or refusal to allocate compensation.

Compensation payments are transferred to a commercial bank within 3 business days after consideration of an application for which compensation was not refused.

The Fund suspends the provision of compensation for loans from commercial banks in the following cases:

in case of misuse of a loan with compensation for interest payments;

if the borrower fails to fulfill obligations to pay payments to the bank in accordance with the payment schedule for 3 months in a row;

in case of early recovery from the borrower of the loan amount and interest accrued on it;

upon termination or invalidation of a loan agreement between a commercial bank and the borrower;

when the borrower's bank account is seized;

upon establishing the fact that the documents provided by the borrower or a commercial bank contain unreliable or incorrect information.

For a new “Green” consumer loan for an individual for whom compensation has already been allocated, repeated compensation may be allocated in the following cases:

full repayment of the loan debt under the current loan agreement;

termination or invalidation of the agreement on the provision of a “Green” consumer loan;

the Fund makes a decision to stop paying compensation.

A “green” consumer loan is a loan provided to individuals in national currency for the targeted installation of solar photovoltaic plants, solar water heaters and wind power plants.