On October 7, 2021, the Board of Directors of the Asian Development Bank decided to grant Uzbekistan a loan of $100 million for a period of 25 years with a five-year deferred payment under the "Financial Market Development Program".

The ADB funds will be used to finance the budget expenditures of the Republic of Uzbekistan. The Ministry of Finance is the executive body responsible for coordinating and monitoring the implementation of the project, as well as the targeted and effective use of ADB funds. In order to partially hedge currency risks, it is planned to conduct, in cooperation with international financial counterparties, the first test swap operation for a period of three years from part of the ADB funds in the amount of US$ 20 million.

Expenses related to the return of ADB funds and interest payments, as well as interest payments under the first test swap operation, will be made at the expense of the Republican Budget of Uzbekistan. At the same time, the income received under the general agreement with the International Swaps and Derivatives Association is reflected as the income of the Republican budget.

The Central Bank is recommended to act as a financial agent in the implementation of the project and transactions with the International Swaps and Derivatives Association

The forecast schedule of debt repayment and interest payments allocated by the Asian Development Bank under the "Financial Market Development Program" has been approved.

The document was published in the state language in the National Database of Legislation and entered into force on 08.02.2022, reports "Norma".