...

EIB helping Uzbekistan to fight economic impact of COVID-19

Finance Materials 25 April 2020 12:25 (UTC +04:00)
EIB helping Uzbekistan to fight economic impact of COVID-19

BAKU, Azerbaijan, April 25

By Ilkin Seyfaddini – Trend:

The European Investment Bank will assist Uzbekistan in combating the economic consequences of the COVID-19 pandemic, Trend reports citing the Uzbek Ministry of Investment and Foreign Trade.

The issue was discussed during a video conference between the Ministry of Investment and Foreign Trade of Uzbekistan with Vice President of the European Investment Bank (EIB) Lilyana Pavlova.

During the negotiations, the sides discussed the measures taken by the Government of Uzbekistan to counteract the spread of coronavirus infection, as well as to reduce the impact of global crisis phenomena on the national economy and the welfare of the population.

The bank's management praised the timeliness and effectiveness of Uzbek government's support for its citizens and entrepreneurs during the pandemic.

The bank's management decided to provide financial assistance to Uzbekistan in the fight against the pandemic and its economic consequences. In this regard, the EIB will allocate 50 million euros to support Uzbekistan's health system, as well as open credit lines to commercial banks of Uzbekistan in the amount of 80 million euros to finance domestic producers, exporters and small and medium businesses.

An agreement on joint elaboration of new investment projects in order to bring the volume of the Bank's portfolio of projects in Uzbekistan to 500 million euros in the near future was also reached.

---

Follow author on Twitter: @seyfaddini

Tags:
Latest

Latest