Beijing based AIIB approves $250 Mn loan to Pakistan

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According to the Asian Infrastructure Investment Bank (AIIB) on Wednesday, it would loan $250 Mn to Pakistan to enable the nation to manage the impacts of the COVID-19 pandemic. 

The venture will be co-financed by the World Bank and will reinforce a Pakistan government program to fortify the health sector, social safety nets, interest in human capital and economic development, the AIIB said in an announcement. 

The AIIB has recently endorsed a loan of $500 Mn for Pakistan’s reaction to COVID-19. Both loans are a piece of the AIIB’s $10 Bn funding facility to enable public and private sectors to battle the pandemic.