Central and West Asia

Sum of Measures 1—5 (Total Package)

Total Package in USD Million: 1,000.00
% of GDP (2019): 1.83%
% of Regional Total Package: 2.06%
Package Per Capita in USD: 29.78
Note: Measures 9 and 10 are added to the sum of Measures 1-5.
Measure Amount (Local) Amount (USD) Details Update Source
01 - Liquidity Support info_outline
01A - Short-term lending info_outline
01B - Support policies for short-term lending info_outline
01C - Forex operations info_outline
02 - Credit creation info_outline
02A - Financial sector lending/funding info_outline
02B - Support policies for long-term lending info_outline
02B1 - Interest rate reductions

No amount/estimate: 14 April 2020, Uzbekistan’s central bank cut policy rates by 100bps, from 16% to 15%. On September 8, this was further reduced to 14%, where it has since remained unchanged.

02B2 - Other policies to support long-term lending
02C - Loan guarantees
03 - Direct long-term lending info_outline
03A - Long-term lending info_outline

17 June 2020, USD100 million in long-term loans to the service sector to create more jobs and hasten economic recovery.

03B - Forbearance

No amount/estimate: (i) The Central Bank is granting a grace period and extending debt repayment periods until 1 October 2020 for adversely affected borrowers, with no penalties; (ii) State-owned banks are extending maturities of loan repayments for the affected sectors, including for the national air carrier.

04 - Equity support info_outline
05 - Health and income support UZS9,554,220,000,000 USD1,000,000,000

Uzbekistan’s government created an Anti-Crisis Fund of USD1 billion to support the economy and help those most affected by the crisis. In addition to the Anti-Crisis Fund, the government temporarily reduced some taxes and the Fund for Reconstruction and Development increased lending.

05A - Health support UZS9,247,220,000,000 USD967,867,602

No amount/estimate: Expand funding for healthcare, including for (i) medicines, (ii) the costs of quarantines, and (iii) salary supplement for medical employees.

05B - Income support UZS307,000,000,000 USD32,132,398
05B1 - Tax and contribution deferrals and policy changes

(i) No amount/estimate: Extending the moratorium on tax audits; (ii) No amount/estimate: Delaying tax declarations for 2019 income taxes (until August); (iii) No amount/estimate: The central government also asked local governments to provide a 6-month grace period on paying property tax; (iv) No amount/estimate: Temporary reduction of social contributions for individual entrepreneurs; (v) Postponing surcharges on tourism, property tax, and land tax.

05B2 - Tax and contribution rates reduction

(i) No amount/estimate: The central government also asked local governments to reduce taxes by 30%; (ii) No amount/estimate: 20 May 2020, Self-employed citizens were exempted from income tax; (iii) No amount/estimate: 20 July 2020, Tax exemption for restaurants as well as individuals/businesses deriving rent income. (iv) No amount/estimate: Items (i) and (ii) were extended until 31 December 2020; (v) No amount/estimate: From 1 May 2020 to 1 July 2020, The social tax rate for MSMEs was reduced from 12% to 1%.

05B3 - Wage support and subsidies to individuals and households UZS307,000,000,000 USD32,132,398

(i) No amount/estimate: Increase the number of low-income families receiving social benefits; (ii) As of 10 June 2020, under the “Generosity and Support” Fund, over 540,000 families have received assistance amounting to UZS307 billion.

05B4 - Subsidies to business

No amount/estimate: Provide assistance to affected businesses via interest subsidies.

05B5 - Indirect income support
05B6 - No breakdown (income support)

No amount/estimate: Finance public works in different regions to improve infrastructure and support employment.

05C - No breakdown (health and income support)
06 - Budget reallocation info_outline
07 - Central bank financing government
07A - Direct lending & reserve drawdown
07B - Secondary purchase: government securities
08 - International Assistance Received UZS13,560,705,723,240 USD1,419,342,000
08A - Swaps info_outline
08B - International loans/grants UZS13,560,705,723,240 USD1,419,342,000
08B1 - Asian Development Bank UZS6,949,548,543,600 USD727,380,000

(i) Primary Health Care Improvement Project - USD19.5 million; (ii) Nonsovereign Operations: Trade Finance Program (Additional Financing) - USD100.97 million (with an additional USD51.45 million co-financed) [update]; (iii) Country Support under TA 9950-REG: Regional Support to Address the Outbreak of COVID-19 and Potential Outbreaks of Other Communicable Diseases - USD1.69 million; (iv) 3 June 2020, Developing a Disaster Risk Transfer Facility in the Central Asia Regional Economic Cooperation Region (Additional Financing) - USD0.07million; (v) 25 June 2020, COVID-19 Active Response and Expenditure Support - USD500 million; (vi) 1 July 2020, Promoting Digital Finance Solutions for Inclusive Finance among Partner Financial Institutions - USD0.15 million; (vii) 13 July 2020, Addressing Health Threats in the Central, West, and East Asia Region - USD0.38 million; (viii) 30 July 2020, COVID-19 Response and Healthcare Improvement Project - USD100 million; (ix) 24 July 2020, Due Diligence and Capacity Development of Trade Finance Program Banks - USD0.06 million; (x) 4 August 2020, Assessment of Socio-economic Impacts of COVID-19 and Institutional Strengthening for Policy Responses - USD0.65 million; (xi) 14 August 2020, Economic Management Improvement Program (Subprogram 1 Additional Financing) - USD0.3 million; (xii) 14 September 2020, COVID-19 Emergency Response - USD3 million; (xiii) 6 October 2020, Capacity Development for the Supply Chain Finance Program - USD0.26 million; (xiv) 5 November 2020, Creating Investable Cities in Post-COVID-19 Asia-Pacific: Enhancing Competitiveness and Resilience through Quality Infrastructure - USD0.11 million [update]; (xv) 18 November 2020, Supporting Startup Ecosystem in the Central Asia Regional Economic Cooperation Region to Mitigate Impact of COVID-19 and Support Economic Revival - USD 0.05 million; (xvi) 26 November 2020, Addressing Health Threats in the Central, West, and East Asia Region (Additional Financing) - USD0.04 million [update]; (xvii) 9 December 2020, Economic Management Improvement Facility - USD0.15 million. [update]

08B2 - Other UZS6,611,157,179,640 USD691,962,000

(i) World Bank: 24 April 2020, USD95 million financing package to strengthen the capacity of the national health system in areas like disease surveillance, testing, equipment, and facilities for the treatment of critically ill patients, including ventilators and Intensive Care Units (about USD38 million) and help the Government extend the program of low-income family allowances and provide one-off unemployment benefits (USD57 million); (ii) 30 April 2020, USD200 million in additional development policy financing to support Uzbekistan’s ongoing health, social, and economic policy responses to the crisis caused by the COVID-19 pandemic; (iii) 18 May 2020, USD375 million under the IMF's Rapid Financing Instrument (RFI) and Rapid Credit Facility (RCF); (iv) 26 May 2020, USD3.9 million from USAID to prepare laboratory systems, activate case-finding and event-based surveillance, support technical experts for response and preparedness, bolster risk-communications, and more; (v) 26 May 2020, USD17.16 million from the Islamic Development Bank to finance purchasing of medical supply and equipment for the specialized medical facility of 10,000 beds for treatment of the COVID-19 infected patients in Tashkent; (vi) 28 July 2020, USD902,000 worth of medical and laboratory equipment from the United States Centers for Disease Control and Prevention (CDC) to Uzbekistan’s Ministry of Health.

09 - International Assistance Provided
09A - Swaps info_outline
09B - International loans/grants
10 - No breakdown
11 - Other Economic Measures

(i) No amount/estimate: Export ban on masks and medical suits; (ii) Reduction of import duties on some consumer products such as flour, poultry, dairy, sugar, vegetable oils, and hygiene products.

12 - Non-Economic Measures
12A - Measures affecting travel and transport (local and international)

(i) 15 March 2020, The government declared a state of emergency when the first positive case was reported. All travel was restricted, with all borders closed except for trade. Domestic tourism officially resumed on 1 June 2020. On 15 June 2020, Uzbekistan also restarts international flights to the countries with improved epidemiological situations. As of 1 October 2020, all incoming and outgoing international transportation is now allowed, although certain countries still have to provide medical documents and/or negative test results.

12B - Measures affecting business and workplace

(i) 15 March 2020, As part of the state of emergency, schools, universities, and businesses were closed. Public events were prohibited; (ii) 1 July 2020, A partial reopening that had been underway was stopped, and restrictions reinstated, as the number of new cases accelerated.

12C - Others

(i) No amount/estimate: 21 June 2020, Foreign tourists who contract COVID-19 in Uzbekistan will receive USD3,000.