IMF allocates $ 375 mln to Uzbeskitan amid COVID-19 crisis

The Executive Board of the International Monetary Fund (IMF) has decided to allocate $ 375 to Uzbekistan in the fight with coronavirus, Report says, citing RIA Novosti.

“The IMF Executive Board approved the disbursement of US$375 million under the Rapid Credit Facility and Rapid Financing Instrument to support Uzbekistan’s response to the COVID-19 pandemic,” the Fund said in a statement.

The Executive Board (the Board) is responsible for conducting the day-to-day business of the IMF. It is composed of 24 Directors elected by member countries or by groups of states, and the Managing Director, who serves as its Chairman. The Board usually meets several times each week. It carries out its work mainly based on papers prepared by IMF management and staff.