Wednesday, September 23

AIIB approves $250 million loan to Pakistan to fight COVID-19 impact

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BEIJING (Reuters) – The Beijing-backed Asian Infrastructure Investment Bank (AIIB) said on Wednesday it would lend $250 million to Pakistan to help the country deal with the effects of the COVID-19 pandemic.

The project will be co-financed by the World Bank and will bolster a Pakistan government programme to strengthen health infrastructure, social safety nets, investment in human capital and economic growth, the AIIB said in a statement.

The AIIB has previously approved a loan of $500 million for Pakistan’s response to COVID-19. Both loans are part of the AIIB’s $10 billion funding facility to help public and private sectors fight the outbreak.

(Interactive graphic tracking global spread of coronavirus: open https://tmsnrt.rs/3aIRuz7 in an external browser.)

(Reporting by Gabriel Crossley; Editing by Jacqueline Wong)

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