The decision was approved by the resolution of the Government of Uzbekistan “On additional measures on raising capitalization of open joint stock commercial bank “Uzbek industrial and construction bank”.

Cabinet of Ministers of Uzbekistan approved proposal of the Ministry of Finance, Fund for Reconstruction and Development of Uzbekistan, enterprises and organizations of Uzbekneftegaz, Uzbekenergo, Uzkimyosanoat and other shareholders of Uzpromstroybank on increasing charter capital of Uzpromstroybank by 152 billion soums to 300 billion soums in 2012-2013.

At the same time, charter capital of Uzpromstroybank will be increased due to placement of additional shares of the bank to Finance Ministry for 44.5 billion soums and Fund for Reconstruction and Development of Uzbekistan for 33.1 billion soums. Enterprises of Uzbekneftegaz, Uzbekenergo, Uzkimyosanoat and other investors will buy shares of the bank worth 74.4 billion soums.

The Government entrusted Center for coordination and control over functioning of securities market under the State Property Committee to register emission of shares of the bank without any charge.

The resolution set the primary tasks of Uzpromstroybank. The document said that the bank should actively participate in structural reforms, implementation of investment projects on modernization, technical and technological re-equipment of capacities in basic sectors of economy of Uzbekistan.

The bank will ensure project finance of programmes on modernization, reconstruction, technical and technologic re-equipment of capacities in oil, chemical, energy and other key sectors of industry. The bank should also attract loan resources to co-finance investment projects in cooperation with international and foreign banks.