Tashkent, Uzbekistan (UzDaily.com) - On 7 April, Deputy Prime Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov in a video conference discussed with the President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti the measures taken in the Republic of Uzbekistan to counteract the spread of coronavirus infection and mitigate the impact of the global pandemic on socio-economic processes in Uzbekistan, as well as mechanisms to support the EBRD in addressing these challenges.

Suma Chakrabarti praised the timeliness of the measures introduced under the leadership of the President of the Republic of Uzbekistan to protect the population from the global pandemic and mitigate its negative impact on the economy, especially noting the establishment of the Anti-Crisis Fund of Uzbekistan to finance a wide range of economic and social support.

EBRD President confirmed that the EBRD is ready to fully support Uzbekistan in this extremely difficult time by mobilizing funding to combat the spread of the virus, supporting entrepreneurs and measures to increase employment, as well as ensuring the sustainable functioning of the economy.

In this regard, Chakrabarti said that in response to a request from the Uzbek side, credit lines for financing will be provided to four Uzbek commercial banks as a first stage of assistance through the Solidarity Package formed by the EBRD (the total amount of the Package is 1 billion US dollars) small and medium-sized business projects and trade finance lines totaling US$220 million.

Along with this, the EBRD is considering the issue of providing financing in the amount of up to US$100 million to support the working capital of regional utilities, which faced a decrease in utility payments from the population and enterprises.

Following the conference, Suma Chakrabarti wished the President of the Republic of Uzbekistan and the entire population of the country to overcome all the challenges of the global pandemic as soon as possible and assured the EBRD of its readiness for the full support of Uzbekistan.