On April 6 this year, Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan S. Umurzakov and President of the Asian Bank for Infrastructure Investment (AIIB) Jin Liqun held a video conference.

The parties discussed the format of cooperation to overcome the social and economic challenges which the Republic is facing now due to the global spread of coronavirus infection.

The AIIB President praised the relevance and effectiveness of the proactive measures taken by the country's leadership to protect the population from the global pandemic and, in particular, the creation of the Anti-Crisis Fund of Uzbekistan with a purpose to finance a wide range of economic and social support for the population.

Moreover, the AIIB President assured the Uzbek side that despite the difficult global economic situation, the Bank has a strong commitment to provide a considerable assistance to Uzbekistan in stabilizing the economy and improve the country's investment prospects through the consistent development of infrastructure.

Appreciation was expressed on behalf of the Government of Uzbekistan to the Bank’s top officials for the approval by the Bank’s Board of Directors last week of a special loan in the amount of $ 385 million for a large-scale project to upgrade roads infrastructure, water supply and sewerage systems in the Bukhara Region (total cost of projects is $ 1.3 billion).

The AIIB President assured that the Bank will shortly complete the preparation for and approve the long-term preferential loans for previously agreed projects to reconstruct the roads in the Bukhara Region, the Republic of Karakalpakstan and the Khorezm Region, and to provide the villages in the Republic of Karakalpakstan and the Khorezm Region with drinking water, sewerage and heat supply systems. Total amount of these loans is more than $ 680 million.

During the video conference, the parties reached the agreement to negotiate an emergency allocation of additional funding to the healthcare system and entrepreneurship to minimize the negative impact of the coronavirus pandemic on the economy of Uzbekistan.

The AIIB President reiterated the readiness to expeditiously consider the application of Uzbekistan and assured the AIIB’s commitment to the comprehensive support of Uzbekistan.