The agreements on the allocation of the Republic of Uzbekistan by the ADB soft loan in the amount of $ 500 million were signed. This decision was unanimously approved by the Board of Directors of the bank on 25 June, 2020.
For reference: borrowed funds in the amount $ 500 million were allocated for 15 years (including a 3-year grace period) with an annual interest rate of Libor (6 months) + spread (0.5%).
These funds will be directed to replenish the Anti-Crisis Fund under the Ministry of Finance of the Republic of Uzbekistan and the state budget to finance measures to mitigate the negative impact of the coronavirus pandemic.
Prior to providing loans, ADB conducted an analysis of the macroeconomic situation in the country, including the risks of servicing public debt. According to ADB, the republic’s public debt is estimated at a stable level with low risks.