On October 7, 2021, the Board of Directors of the Asian Development Bank decided to provide Uzbekistan with a loan in the amount of $100 million for a period of 25 years with a 5-year deferred payment under the Financial Market Development Program.

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 controlling project implementation, as well as the targeted and efficient 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 3 years from a portion of ADB funds in the amount of $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, income received under the general agreement with the International Association of Swaps and Derivatives is reflected as income of the Republican budget.
 
The Central Bank was recommended to act as a financial agent in the implementation of the project and transactions with the International Association of Swaps and Derivatives.
 
A forecast schedule for the repayment of debt and interest payments allocated by the ADB under the “Financial Market Development Program” was approved.