Uzbekistan asks $1 billion from ADB to mitigate coronavirus shocks 

According to the Ministry of Investment and Foreign Trade, during the conversation, Asakawa said that the ADB is ready to provide support to Uzbekistan at this extremely challenging time through mobilizing financing in the fight against COVID-19, supporting entrepreneurs and ensuring the stable functioning of the economy.

ADB has already approved the allocation of support in the amount of $200 thousand to immediately address medical needs. The bank is also considering the mobilization of additional funds to support the healthcare system of Uzbekistan.

“ADB is working with the government of Uzbekistan to provide support that will help mitigate the negative impact of the pandemic on the economy. ADB will also provide policy advice and redistribute current loan savings to help the government meet urgent needs and strengthen Uzbekistan’s healthcare system,” ADB’s press service reported.

Moreover, in the near future, the bank’s management will work on the allocation of additional financial resources to ensure sustainability and stimulate the development of the economy of Uzbekistan during the pandemic.

According to the MIFT press service, the sides had also talked about the possibility of drawing ADB’s funds worth up to $1 billion to support the state budget.

Asakawa said that “every effort is being made to speed up the procedure for approving and allocating financial assistance funds.”