-1588330759.jpg)
Uzbekistan gets additional 200 mln USD to fight COVID-19
Tashkent/Xinhua/UNI: The World Bank has approved 200 million U.S. dollars in additional development policy financing to support Uzbekistan's response to the COVID-19 pandemic, it said Friday.
The move will provide additional money for the Uzbek government's budget amid a large decline in tax revenues and an unanticipated increase in expenditures to cover anti-crisis measures, according to the World Bank.
"The additional support provided under this operation is linked to the 500 million U.S. dollar Development Policy Operation that was approved by the World Bank's Board of Executive Directors in June 2019," the bank said.
The case for additional financing was based on the significant progress the country had achieved prior to the COVID-19 pandemic in implementing inclusive market reforms, and the unanticipated budgetary gap that has emerged as a result of the crisis, the bank added.
Last month, the World Bank provided Uzbekistan with a finance package of 95 million dollars to strengthen health and social protection systems.
Uzbekistan has registered 2,017 confirmed cases so far and has locked down all major cities, including its capital city of Tashkent, to contain the spread of the pandemic.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
