China-backed AIIB approves $500 m loan for Pakistan’s COVID-19 response

0 67

Get real time updates directly on you device, subscribe now.

BEIJING (Reuters) – The Beijing-backed Asian Infrastructure Investment Bank (AIIB) has approved a loan of $500 million to help Pakistan battle the coronavirus pandemic, the bank said on Thursday.

The project, co-financed by the Asian Development Bank, aims to strengthen protection for vulnerable groups, bolster the health care system, and help small businesses amid the economic downturn, the bank said in a statement.

The loan is part of a $10 billion funding facility the AIIB has announced to help public and private sectors fight the outbreak.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More