BAKU, Azerbaijan, July 29
By Ilkin Seyfaddini - Trend:
The total amount of loans allocated to Uzbekistan by the Asian Development Bank (ADB), International Monetary Fund (IMF) and World Bank (WB) to fight the coronavirus has exceeded $1 billion, Trend reports citing the Uzbek Ministry of Finance.
According to the Ministry, as additional financing for the reform support project, the World Bank allocated a concessional loan of $200 million for 30 years (with a grace period of five years) with a 1.2 percent floating rate.
In addition, to reduce the negative impact of the coronavirus pandemic on the economy of Uzbekistan, the IMF has provided soft loans equivalent to $375 million.
The concessional loans include an interest-free $125 million operational credit line with 10-year grace period and a $250 million operational financing instrument with a floating rate of 1.05 percent.
ADB provided a $500 million loan with 15-year grace period and 0.84 percent floating rate.
"Funds received from international financial institutions are directed to the Anti-Crisis Fund on the basis of relevant decrees, resolutions and orders of the president and the government of Uzbekistan," the message said.
A total of 6.5 trillion soum ($634.6 million) was allocated from the Anti-Crisis Fund to solve the problems arising in the conditions of the pandemic.
Among them, one trillion soum ($97.6 million) was spent on measures to combat coronavirus, 2.5 trillion soum ($244.1 million) was spent on construction and reconstruction of infrastructure, 640 billion soum ($62.4 million) on social protection measures, provision of material assistance to vulnerable groups of population and 2.3 trillion soum ($224.5 million) to cover priority payments to workers of large industrial and service enterprises during the pandemic.
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