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Compensation will be provided for “green” consumer loans
The Intersectoral Energy Saving Fund provides compensation for up to 3 years to reimburse part of the interest rate on “green” consumer loans. The loan size should not exceed 500 BRV (165 million soums), and the interest rate should not exceed 1.5 times the main rate of the Central Bank, but not more than 5 percentage points.
Compensation is provided to individuals who have received a positive conclusion from the scoring system of commercial banks on “green” consumer loans and do not have overdue loans and taxes at the time of application.
The Fund reviews the submitted documents within 2 working days from the date of their receipt, after which a certificate is issued about the allocation of compensation or the refusal to provide it.
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;
• if the loan agreement between a commercial bank and the borrower was terminated or declared invalid;
• when the borrower's bank account is seized;
• if false information is identified in the documents provided by the borrower or a commercial bank.
Under the new “green” consumer loan, an individual who has already been provided with compensation can receive re-compensation in the following situations:
• upon full repayment of the loan debt under the current loan agreement;
• upon termination or invalidation of an agreement on the provision of a “green” consumer loan;
• when the Fund makes a decision to stop paying compensation.
Note: A green consumer loan is a loan provided to individuals in local currency for specific purposes, such as the installation of solar photovoltaic plants, solar water heaters and wind farms.
