Uzbekistan in talks with ADB on $1 bln loan

·1 min read

TASHKENT, April 1 (Reuters) - Uzbekistan has asked the Asian Development Bank (ADB) for a $1 billion budget support loan, the Central Asian nation's Ministry of Investments and Foreign Trade said on Wednesday.

Uzbek President Shavkat Mirziyoyev last month ordered his cabinet to set up a $1.1 billion fund to prevent the spread of coronavirus and mitigate its social and economic impact, and finance the fund through external soft loans.

In a statement on Wednesday, the ministry said its head Sardor Umurzakov held a videoconference meeting with ADB President Masatsugu Asakawa, who told the Uzbek minister ADB has set up a team to review Uzbekistan's request. (Reporting by Mukhammadsharif Mamatkulov Writing by Olzhas Auyezov Editing by Chizu Nomiyama)