EIB to assist Uzbekistan in combating economic consequences of the pandemic

The parties discussed measures taken by Uzbekistan to counteract the spread of the coronavirus infection, to reduce the impact of the global crisis on the national economy and to ensure the welfare of the country’s population, the press service of the ministry said.

The EIB Vice President noted that the leadership of the Bank has examined the request of Uzbekistan and decided to provide financial assistance in the fight against the pandemic and its economic consequences; the EIB will allocate €50 million to support the national health system and open credit lines to commercial banks of Uzbekistan in the amount of €80 million to finance domestic producers, exporters as well as small and medium-sized enterprises.

Also during the teleconference, the sides discussed issues related to the implementation of the EIB project portfolio in Uzbekistan and measures to further expand cooperation.

The parties also agreed that new investment projects should be developed in order to bring the bank’s portfolio of projects in Uzbekistan to €500 million in the nearest future.