President of Uzbekistan Islam Karimov signed a resolution “On subscription of Uzbekistan to additional shares to charter capital of the International Development Association” on 31 October 2014.

The document was adopted to further expanding of cooperation with the IDA and preserve primary share of Uzbekistan in its charter capital in connection with its growth.

The resolution underlined that the Board of managers of the IDA adopted a decision on increasing charter capital of the IDA and organization of subscription of member-states to additional shares with keeping their share in the charter capital of the institution.

Uzbek leader approved proposal of Ministry of Economy, Ministry of Finance and Central Bank of Uzbekistan on additional subscription of Uzbekistan to 7,972 shares of the IDA, of which 2,171 shares will be paid on par value of US$25. Uzbekistan will pay US$54,300 to shares. Other 5,800 shares are non-paid shares.

Islam Karimov authorized Minister of finance of Uzbekistan to sign written obligation, notifying on intention of Uzbekistan to purchase additional shares in the charter capital of the IDA.

The payment for 2,172 shares in the charter capital of the IDA will be made through issue of non-transferred bills by Central Bank of Uzbekistan in national currency. The sum will be placed at securities account of IDA at the Central Bank of Uzbekistan and paid in set order on request of the IDA.

President ordered Central Bank to issue bills for US$54,300 in national currency within 31 days after sending notification document and place securities at the securities account of IDA at the Central Bank of Uzbekistan.