China Backs $750 Million Loan Project for This Country’s COVID19 Response

1172

According to a Reuters report, Beijing-backed Asian Infrastructure Investment Bank (AIIB) has approved a loan of $750 million to help India battle the impact of the coronavirus pandemic on vulnerable households, the bank said on Wednesday.

About the Project

  • The project, co-financed by the Asian Development Bank, aims to strengthen economic aid for businesses, expand social safety nets and bolster healthcare.
  • In May, AIIB approved a $500 million loan to assist India’s emergency response to the pandemic. Both loans are part of a $10 billion funding facility the AIIB has announced to help public and private sectors fight the outbreak.

Did you subscribe to our daily newsletter?

It’s Free! Click here to Subscribe!

Source: Reuters

1 COMMENT

Comments are closed.