19 May 2020

The IMF provided Uzbekistan with a soft loan of $375 million

On 18 May 2020, the Board of Directors of the International Monetary Fund approved the allocation of $375 million in concessional loans to the Republic of Uzbekistan in order to mitigate the negative impact of the coronavirus pandemic on the country’s economy.

Soft loans include an interest-free rapid credit line of $125 million with a 10-year grace period (including a 5-year grace period) and a $250 million rapid financing instrument with a 5-year grace period (including a 3-year grace period) with an annual interest rate of 1.05 per cent.

These funds will be used to replenish the Anti-crisis Fund under the Ministry of Finance of the Republic of Uzbekistan to finance measures to mitigate the negative impact of the global crisis and the coronavirus pandemic.