Uzbekistan_Support to the Operationalization of the Uzbekistan Mortgage Refinancing Company

The objective of the assignment is to support the Government of Uzbekistan  to operationalize the Uzbekistan Mortgage Refinancing Company (UMRC) by developing constitutive documents, strategy, systems, and policies. The UMRC is envisaged to be a wholesale financial institution providing long-term finance to mortgage lenders. It issues bonds in the capital markets, and with the proceeds, provides long-term loans to mortgage lenders. It bridges the maturity mismatch which lenders face when trying to do long-term lending using their short-term deposits. It is therefore important that the constitutive documents, strategy, systems, and policies are developed in line with international best practices.

Qualifications: 

The Transaction Advisor is expected to:
    

  • Prepare an Offering Memorandum for raising UMRC capital in line with the Center for Coordination and Control of Securities Market legal and regulatory requirements and best practices in the market;
  • Engage with all the financial institutions which have expressed an interest in investing in UMRC with the goal to mobilize the minimum equity capital required;
  • Assist the Ministry of Finance in holding Stakeholders/Investors Forum(s) for prospective shareholders;
  • Finalize UMRC capital structure;
  • Provide advice to Ministry of Finance, as the case may be, to ensure broad participation of financial institutions into UMRC capital;
  • Prepare subscription agreements/shareholder agreements and all necessary documentation for execution by prospective shareholders for subscription to initial shareholder equity;
  • Prepare a shareholder loan agreement for any contribution provided by the Ministry of Finance to UMRC in the form of a credit line; and
  • Any other steps or actions necessary towards completing the initial capitalization of UMRC as mutually agreed between the Ministry of Finance, the banks and ADB.
Start / Duration: 

The expected implementation of the Technical Assistance is from March 2019 to December 2020

If you are interested to cooperate with AFC Consultants please send you most recent CV to Barbara.Braun [at] afci.de  

Thank you