On April 1 of this year, Deputy Prime Minister and Minister of Investment and Foreign Trade of the Republic of Uzbekistan S. Umurzakov, held the discussion in a video conference format with the President of the Asian Development Bank (ADB) Masatsugu Asakawa about the measures taken in the Republic of Uzbekistan to protect the population from the spread of coronavirus and mitigate the impact of global pandemics to social and economic activities in the country, as well as support mechanisms that ADB can provide to Uzbekistan in this situation.

The ADB President praised the measures initiated by the President of the Republic of Uzbekistan to ensure macroeconomic stability and uninterrupted operation of industries, stimulate foreign economic activity, and provide effective social support to the population during the period of counteracting the spread of coronavirus infection. Masatsugu Asakawa emphasized that Uzbekistan timely established the Anti-Crisis Fund to finance a wide range of economic and social support measures.

During the conversation, Masatsugu Asakawa said that the ADB is ready to provide comprehensive support to Uzbekistan at this extremely difficult time by mobilizing funding to fight against COVID-19, supporting entrepreneurs and ensuring the sound functioning of the economy. Currently, ADB has already agreed to provide grant support in the amount of US $ 200,000 for the medical needs of Uzbekistan related to the spread of the virus. The Bank also places emphasis on the perspective of mobilizing additional funds for comprehensive support of the healthcare system of the Republic.

Moreover, in the near future, the Bank’s top officials will consider the possibility of additional funding to ensure sustainability and stimulate the development of the economy of Uzbekistan in a pandemic.

Separately, parties discussed the possibility to consider the submitted application for the ADB budget support to Uzbekistan in the amount of up to $ 1 billion. M. Asakawa said that the Bank has formed a separate team to work out this issue and said that every effort will be made to expedite the approval process and the allocation of financial support.