BEIJING: The Beijing-backed Asian Infrastructure Investment Bank (AIIB) said on Wednesday it would lend US$250 mil 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 US$500 mil for Pakistan’s response to Covid-19. Both loans are part of the AIIB’s US$10 bil funding facility to help public and private sectors fight the outbreak. – July 22, 2020, Reuters
