Uzbekistan will receive a $ 1 billion World Bank loan to help mitigate the impact of the currency liberalization on enterprises and households.
This arrangement was reached during the talks between President Shavkat Mirziyoyev and World Bank President Jim Yong Kim in New York on September 20.
Discussions of the provisional terms of the loan are expected to begin in November this year, and the draft deal will be sent for approval to the WB Board of Directors in Q1-2 next year.
Starting from September 5, legal entities and individuals can freely buy and sell foreign currency at the official rate. On the same day, the Central Bank devalued the national currency against the US dollar by almost twice.
