BAKU, Azerbaijan, Apr. 23
By Ilkin Seyfaddini - Trend:
Uzbekistan will borrow $1.6 billion from development banks during the coronavirus pandemic, Trend reports citing Uzbek media.
Deputy Prime Minister of Uzbekistan and Minister of Economic Development and Poverty Reduction Jamshid Kuchkarov made the remark during the Uzbekistan's International Press Club session in Tashkent.
According to him, the authorities plan to borrow $375 million from the International Monetary Fund, $500 million from the Asian Development Bank and $750 million from the World Bank.
Uzbekistan has not yet received most of the funds, but the country itself has sufficient financial resources, Kuchkarov said.
The country has also received 600 billion soum ($59 million) of donations, he said. Earlier, Uzbek billioner Alisher Usmanov contributed $20 million and on April 23, another $5 million will come on his behalf, said the deputy PM.
"These funds will go to equip a hospital under construction in Zangiata district. Besides, UzTex has allocated $1 million dollars, the Baht Textile company from Navoi has donated $500,000, and the Tashkent Trade Centre has donated $200,000," Kuchkarov said.
In March, Uzbekistan's President Shavkat Mirziyoyev ordered the Finance Ministry to create an Anti-Crisis Fund for 10 trillion soum ($983.6 million) to prevent the spread of coronavirus and mitigate its impact on the country's economy.
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