President of Uzbekistan Islam Karimov signed a resolution “On programme on construction of individual houses on standard projects in rural areas in 2014”.

The document is directed at further improving architecture-planning of rural settlements, improving level and quality of life in rural areas through construction of individual houses on standard projects, speeding up development of transport and engineer communication, etc.

According to the resolution, the part of the loan of the Asian Development Bank for US$100 million within the second tranche of the Housing for Integrated Rural Development Improvement Program for US$500 million will be used to finance the construction works.

Uzbek President Islam Karimov entrusted Ministry of Finance of Uzbekistan to allocate loans to Qishloq Qurilish Bank, National Bank of Uzbekistan for Foreign Economic Activity, Ipoteka Bank. The loans will be issued for 15% years with 5 year grace period under interest rate of 3% APR.

The funds will be directed to finance construction of individual houses in rural areas on turn-key bases.

The Ministry of Finance was ordered to allocate funds for construction of roads in rural areas due to resources of Republican road construction fund.

The President also exempted Uzprommashimpex from payment of customs duties on imported roofing metal lists and VAT for important timber, roofing metal lists and timber tiles, which are realized to Qishloq Qurilish Invest till 1 January 2015.

Till 1 January 2015, the sub-contractor organizations, which signed contracts with Qishloq Qurilish Invest for construction of individual houses in rural areas, were exempted from payment of single tax.

The enterprises on production of construction materials, listed in the presidential decree, from payment of all taxes and payments, except single social payments.

As reported earlier, Uzbekistan will construct 10,000 houses in 2013 within the programme on construction of individual houses on standard projects in rural areas.